The sale will increase Tyrrells’ number of manufacturing sites to five globally.
Tyrrells ceo David Milner said: “We are delighted to increase our capabilities in Europe as well as to boost our organic expertise with this acquisition.
“Tyrrells is now in an excellent position to ensure we continue to meet growing demand for Tyrrells in continental Europe.”
The purchase will be the second such deal made since Tyrrells was bought by Investcorp for £100M in August 2013.
The manufacturer’s latest acquisition follows the buyout of Australian snack company Yarra Valley Snack Foods in August 2015.
‘International growth plans’
A spokesman for Tyrrells said: “Germany is Tyrrells’ largest European market and this acquisition is the next natural step in the company's ambitious international growth plans.
“Strengthening the brand’s presence and production capacity in the region – as well as establishing an organic manufacturing platform – will increase the brand’s expertise in this growing sector.”
Tyrrells reported that Germany was the company’s largest European market, followed by France. The company hoped to build on its success in Germany and support sales growth in Europe.
Based at Tyrrells Court Farm in Herefordshire, the company exports to more than 37 countries and expects brand value to reach £230M this year.
Sales rose by 17%
Marketing research firm AC Nielson reported that Tyrrells value sales in the UK rose by 17% in the 2016 financial year.
The snack maker had a gross profit of £21.9M during the 2014/15 financial year.
Seven crisp flavours were made available in Germany by Tyrrells, with its Sea Salt & Cider Vinegar flavour being the most popular.
Aroma Snacks md Jochen Krumm said he was looking forward to working with Tyrrells and “realising our combined growth potential”.
“We are very excited about the opportunities that this acquisition presents both nationally and internationally,” said Krumm.
Tyrrells’ Acquisitions
- Aroma Snacks – May 2016
- Yarra Valley Snack Foods – August 2015