KP Snacks snaps up Tyrells from Hershey
22 May 2018 --- KP Snacks, a subsidiary of the Intersnack Group has reached an agreement to acquire Tyrrells, Inc. and its global portfolio of better-for-you, premium snack brands from The Hershey Company and its subsidiaries. Terms of the deal are not being disclosed. However, it comes just a few months after Hershey acquired the premium snacks brand in December 2017, as part of the Amplify Snacks Brands deal, valued at approximately US$1.6 billion.
That move showed how big US food firms are diversifying focus to better cater for American consumers’ growing preference for healthier options. It strengthened Hershey's position in the snacking aisle, while broadening its portfolio of innovative, savory snacking brands, the company said at the time.
The Tyrrells business includes a head office and two manufacturing sites in the UK, the Aroma Snacks business in Germany and Yarra Valley Snack Foods in Australia, as well as the US manufacturing capabilities.
Mark Thorpe, CEO of KP Snacks calls Tyrells an iconic brand with a “big personality” that has performed well both in the UK and international markets. “Subject to completion of the deal, we look forward to welcoming our new Tyrrells colleagues into the business,” he says. “This acquisition is a fantastic opportunity for us to add premium hand-cooked crisps to the KP business and a brand which further increases our capability in the sharing category.”
“We can now offer our consumers and customers a total savory snacking category portfolio. I am delighted that Tyrrells will be joining us to help maintain our momentum as the UK’s fastest growing scale snacks manufacturer and also enable us to continue to grow the brand across the international markets.” The transaction is subject to approval by the regulatory authorities, upon which the Intersnack, KP and Tyrrells teams will work closely to ensure a seamless transition for customers, consumers and colleagues. It will be business as usual in the intervening period, according to the company.
“The Intersnack Board is delighted about this opportunity. It is an excellent strategic fit which not only strengthens our market coverage in the UK and France with the Tyrrells brand, but also adds Aroma Snacks in Germany and their promising brand Lisa organic potato chips,” said Maarten Leerdam, Executive Chairman of Intersnack Group.
“Last but not least, we extend our international footprint towards Australia via Yarra Valley Snacks with Tyrrells and the local better-for-you brands Thomas Chipman and Wholesome.”
KP Snacks is the UK’s number one manufacturer of nuts and number two manufacturer of bagged snacks, making some of Britain’s most iconic snack brands including McCoy’s, Hula Hoops, Butterkist, KP Nuts, Roysters, Brannigans and Frisps.
“I am incredibly proud of everything the Tyrrells team has achieved, starting in our farmhouse kitchen 16 years ago to become a brand loved internationally across more than 40 countries,” adds Malcolm Burns, Managing Director of Tyrrells International.
“We bring our award-winning capabilities in hand cooked crisps and popcorn to join with the UK’s fastest growing scale snacks manufacturer. KP Snacks offers a great long-term home for Tyrrells, Aroma and YVSF, providing a stable platform for growth over the coming years. Together, we will be able to offer our consumers and customers a total savory snacking category portfolio.”
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