Hershey 'exploring a sale of Tyrrells'
Crisp maker Tyrrells is reported to be back on the shop shelf, just months after it became part of American giant Hershey.
The food business, which is based close to the Shropshire border near Leominster, was wrapped up in Hershey’s $1.6 billion (£1.2bn) purchase of Amplify, which had itself paid £300 million for Tyrrells in 2016.
Although the Hershey deal was only agreed in December, it is reported that the US business is already considering a sale of the £60 million-turnover crisp business.
Today, Tyrrells said it doesn't engage in media speculation regarding the business.
A decision to offload Tyrrells would represent something of a surprise, since a diversification away from confectionery and into the wider snacking market was seen as one of the key drivers of the Amplify takeover.
For a relatively young company, Tyrrells has already undergone an unusually large number of ownership changes.
It was initially backed by Langholm Capital, a private equity firm, before being sold to Investcorp, a Bahrain-based investor, in 2013.
Sources said on Monday that Hershey was unlikely to command a price tag for Tyrrells which would recoup the money spent by Amplify 15 months ago.
Tyrrells was founded in 2002 by William Chase at Tyrrells Court Farm.
It has grown through international acquisitions, including Australian business Yarra Valley Snack Foods and German producer Aroma Snacks. It has also diversified its product lines into other snacks, including popcorn, tortilla chips and vegetable crisps.
