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Intersnack Group subsidiary KP Snacks has agreed a deal to acquire premium snacks brand Tyrells from The Hershey Company for an undisclosed sum.
KP Snacks will acquire Tyrrells’s head office and two manufacturing sites in the UK, along with its US manufacturing capabilities, the Aroma Snacks business in Germany and Yarra Valley Snack Foods in Australia.
Hershey only acquired the premium snacks brand in December 2017 as part of a $1.6 billion deal for its parent company Amplify Snacks Brands.
The deal is subject to approval from the UK’s Competition and Markets Authority (CMA), and the businesses will continue to operate as separate entities during the approval period.
This acquisition will add to KP Snack’s extensive range of snack brands, which includes McCoy’s, Hula Hoops Butterkist and more.
Mark Thorpe, CEO of KP Snacks said: “Tyrrells is an iconic brand with a big personality that has performed well both in the UK and international markets”.
Malcolm Burns, managing director of Tyrrells International said: “We are delighted that Tyrrells will be joining the KP Snacks family. 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”.
“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 savoury snacking category portfolio.”