Amplify Snack Brands Buys UK Crisp Maker Tyrrells for GBP300m

Amplify Snack Brands, Inc. and Crisps Topco Limited and Subsidiaries (“Tyrrells”) have recently announced they signed an agreement under which Amplify will acquire Tyrrells.

Under the terms of the GBP300m transaction, Tyrrells’ current owner Investcorp and members of the Tyrrells management team will receive approximately GBP278m in cash and approximately 2.1m shares of Amplify’s common stock.

Amplify expects to close the transaction by the end of the third quarter of calendar 2016.

Tom Ennis, Amplify’s president and chief executive officer, said: “Together, Amplify and Tyrrells will partner to create a truly unique international Better-For-You snack food leader that can continue to drive robust future revenue and earnings growth”. He also added the company plans to capitalize on each company’s market leadership and sales forces, to drive higher revenue growth than either company could independently accomplish.”

Founded in 2002, Tyrrells is a diversified, international snacking company that manufactures and markets brands including Tyrrells Potato Crisps, Tyrrells branded Vegetable Crisps, Tyrrells Poshcorn, Tyrrells Nibbles, Tyrrells Tortillas, in the United Kingdom, Europe and many other international markets; Yarra Valley, manufacturer of Thomas Chipman and The Wholesome Food Company brands in Australia; and Aroma Snacks, manufacturer of Lisa’s kettle chips in Germany.