Snack company Tyrrells booming as crisps sales jump to £61 million
Booming sales of crisps at home and abroad helped Tyrrells to grow revenues by a quarter last year.
The Leominster-based high-end snack specialist has reported sales for the year to April 1 of £61.6 million, up from £49.3m in 2015.
It comes as the company increasingly looks to new territories. The figures cover the period leading up to the company's takeover by New York Stock Exchange-listed Amplify Snack Brands for £300m in August 2016.
Pre-tax profits for the period also showed strong growth, rising from £8.1m to £13.7m during the period.
"It's encouraging to see our investment and growth strategy has paid off thus far," said David Milner, who is president of Europe at Amplify Snack Brands and whose previous job title was chief executive of Tyrrells.
"Establishing manufacturing facilities in Australia has allowed us to further expand our international reach, particularly across Asia Pacific, while allowing us to continue developing fresh and exciting flavours in the UK and globally.
"This has resulted in successfully increasing our market share across the board through continuous innovation. It's a new chapter for Tyrrells with our new partners Amplify Snack Brands – we're looking forward to continue to identify new opportunities for Tyrrells at home and overseas."
During the period covered by the results Tyrrells continued its move into overseas markets by acquiring Yarra Valley Snack Foods in Melbourne, Australia, as part of a drive to expand into that market.
Just after the financial year ended it then took over another company in Germany.
Its efforts to expand into new markets – Tyrrells now sells in 30 countries – were reflected in improved international sales last year.
In the UK turnover rose by £10m to £49.3m, while in Europe the figure was £2.3m higher at £8.9m. The figure was slightly up at £3.43m in the rest of the world. Tyrrells was founded in Leominster by farmer William Chase in 2002.
