Page 3 - Tyrrells Flip Teaching Guide

At the end of 2010 Chase sold his remaining interest in the

business to Langholm Capital taking their stake to 90% with
the remaining 10% left in the hands of management.

In March 2010 David Milner, the former boss of Kettle Chips,

Australia joined Tyrrells as the Commercial Director

His immediate priority was to improve distribution of the

crisps in the UK, which were then stocked in Waitrose,

Sainsbury's and The Co-operative Group.

However, tripling the size of the company in three years put

pressure on Tyrrells’s manufacturing. In 2012 nearly 30% of

Tyrrells’ sales came from outside of the UK. Within two years
this was expected to rise to 50%.

In early 2013 Langholm Capital decided to undertake the

sale of Tyrrells. On 1st August 2013, Dubai-based luxury
brands investor Investcorp bought Tyrrells for £100m.

Investcorp with a diverse portfolio of ninety companies had

acquired companies including Tiffanys and Gucci.