Mubasher: Investcorp announced on Monday the sale of Crisps Topco Limited to Amplify Snack Brands, Inc. "Amplify" at a value of £300 million.
Investcorp acquired Tyrrells in August 2013 for £100 million and has overseen an extensive transformation of the company in which sales and EBITDA more than doubled, the company said.
"International markets now account for close to 40% of sales compared to 20% three years ago," according to the press release.
Tyrrells has witnessed a business growth through acquisitions in Australia and Germany, under Investcorp’s ownership. It further expanded its healthy snacking portfolio into organic and gluten-free products, creating a truly diversified premium snacks player, the company revealed.
Investcorp pointed that the sale of Tyrrells is its ninth exit in Europe in the last twelve months.
"It has been a hugely successful partnership resulting in a business which is in great shape for further international expansion,” David Milner, CEO of Tyrrells, said.
