The deal comes nine months after Tyrrells made its first overseas acquisition by taking over Australian organic snacks company Yarra Valley Snack Foods. Tyrrells, which was founded in 2002 by farmer and entrepreneur William Chase, exports to more than 37 countries.
Tyrrells described Aroma Snacks, which sells products under the Lisa’s Hand-Cooked Chips brand, as “one of Germany’s largest organic crisp producers”.
The business is located near Lake Constance, close to the borders of Austria and Switzerland, and will give Tyrrells its fifth site, and a manufacturing platform in Germany as it looks to build its European business and increase its presence in the organic market.
Second largest organic market
The German organic market is the second largest in the world after the US, said Tyrrells, followed by France and UK. Germany is Tyrrells largest European market.
“We are delighted to increase our capabilities in Europe as well as to boost our organic expertise with this acquisition,” said Tyrrells CEO David Milner. “Tyrrells is now in an excellent position to ensure we continue to meet growing demand for Tyrrells in continental Europe.”
Aroma Snacks managing director Jochen Krumm said he was “very excited” about the opportunities the acquisition presented nationally and internationally.
Tyrrells’ presence in international markets, ranked in order of largest value sales:
Sales up 17% year on year
UK sales of Tyrrells crisps grew 17% year on year in 2015 [Nielsen], and the business expects brand value to reach £230m ($330m) this year. The business has a presence in markets including potato chips, vegetable crisps, premium popcorn and organic crisps and snacks.
Tyrrells founder William Chase, who sold the business to a private equity firm in 2008 for around £30m ($42m), last month announced he was returning to the snacks industry with the launch of popcorn brand Willy Chase’s Fit Corn that is being manufactured in a facility on his farm in Herefordshire in the UK.