Page 32 - Tyrrells CS

ACQUISITIONS

In May 2010, Langholm Capital, acquired Bart Spices
following a management buy-out. The Bristol-based

company is one of the UK’s largest suppliers of herbs and

spices.

in January 2012, in its first acquisition, Tyrrells acquired, the

family run business Glennans of Uttoxeter, one of its

competitors in the vegetable crisps market segment which
makes up 10% of Tyrrells’ total revenue.

Glennans had been making vegetable crisps since 1994,

catering for private label, co-manufacturing products for

other manufacturers and supplying branded Glennan’s
products to retailers including Tesco and Waitrose.

“Tyrells are investing in the site as their centre of

excellence for vegetable crisps. £1.5m has already been
spent on new equipment with a further £1/2m investment

planned this year. Some 25 new manufacturing jobs have

already been created”

said David Glennan, who continued as Managing Director of

the Glennans site.

Glennans’ recorded sales of £6.7m in the year to 31 July

2010, with a pre-tax loss of £42,000. It already had a

presence in France which was Tyrrells' largest export

market. Tyrrells’ sales in France were up 40% year-on-year,
and US and Canada, two markets which Tyrrells had just

entered would present an opportunity for Glennans with its

state- of- the art and under-utilised manufacturing.