UK premium crisp supplier Tyrrells has made its first international acquisition after buying Australian snacks firm Yarra Valley Snack Foods last week for an undisclosed sum, just 15 months after Tyrrells crisps launched in Australia.
The acquisition provides the opportunity to accelerate the growth of the Tyrrells brand in the local market and in Asia and it’s the first Tyrrells manufacturing base to be located outside the UK.
The move by the UK’s fastest growing hand-cooked premium crisp brand comes two years after Tyrrells’ sale to Investcorp in 2013. Tyrrells is based on a farm in the English county of Herefordshire.
Lilydale, Victoria-based Yarra Valley Snack Foods consolidated its manufacturing facilities at the site over the last few years and also supplies products to the Woolworths Macro label.
The snack food company has been headed up for the past 15 years by managing director and owner Andrew Blain, a former Lion Nathan and Frito Lay executive.
Yarra Valley Snack Foods started in 1988 and became certified organic in 2006. It produces a large range of vegetable-based, natural, organic and gluten free snacks under brands such as Thomas Chipman, Hole-Sum, Mexicana, Puff-Os, and Goody Goody Popcorn.
Following the successful launch of Tyrrells in Coles supermarkets in April 2014, the company is now established in over 37 countries. Global markets make up approximately 25% of its turnover, while the brand is growing at 30% a year.
David Milner, Tyrrells CEO said: “We are delighted to be investing in Australian manufacturing. Our hand-cooked crisps have been extremely well received in Australia, where consumers value well-made food with provenance”.
Managing director of Yarra Valley Snack Foods Andrew Blain said that the alignment between Tyrrells Potato Crisps and Yarra Valley Snack Foods is positive news for the food manufacturing industry in Australia. “We are extremely excited by the opportunities that lie ahead and look forward to working with the team at Tyrrells,” he said.