GOURMET crisp maker Tyrrells, which began life on a Herefordshire potato farm 14 years ago, has been acquired by an American snack giant in a £300m deal.

The company has entered into a definitive agreement to be acquired by Amplify Snack Brands Inc, which is headquartered in Austin, Texas and best known for its SkinnyPop brand. Founded at Tyrrells Court Farm, near Leominster by potato grower William Chase in 2002, Tyrrells has grown into an award-winning, manufacturer of premium hand-cooked potato and vegetable crisps, popcorn and other savoury snacks.

Its value has tripled in the last three years since it was acquired by Investcorp for £100m in 2013. Sales and operating profit have more than doubled and employee numbers have grown by more than 70 per cent globally, with 30 per cent being new positions created in the UK. In the last 12 months Tyrrells has grown organically and through acquisitions in Australia and Germany, further expanding its better-for-you snacking portfolio into organic and gluten-free. International markets now account for close to 40 per cent of revenues compared to 20 per cent three years ago.

Tom Ennis, Amplify’s president and chief executive officer, said: "The product characteristics and flavour profiles of Tyrrells on-trend premium brands align with Amplify’s Better-For-You snacking strategy. Our two brands are examples of strong entrepreneurial spirit with successful track records in transforming categories and creating growth brands. Together we plan to capitalise on each company’s market leadership and sales force capabilities to drive higher revenue growth than either company could independently accomplish."

Amplify Snack Brands is a major player in the rapidly expanding Better-For-You snacking category in America. In the last year SkinnyPop grew 35.3 per cent to more than $203m and remains one of the fastest growing ready-to-eat popcorn brands in North America. In the UK Tyrrells’ indulgent popcorn, Poshcorn, has become one of the biggest brands in the fast growing ready-to-eat popcorn sector.

The deal means the Tyrrells range in America, the largest global market for snacks, will benefit from the experience and knowledge of the Amplify team who are experts in growing premium brands in North America. All other non-North American territories, including the international launch of SkinnyPop, will be managed by the existing, UK-based Tyrrells team. David Milner, chief executive of Tyrrells, will become president international of Amplify upon completion of the transaction.

He said: "This is a terrific deal for Tyrrells and the team who have delivered a stellar performance over the last few years. As a small, UK farm-based business it is a tremendous achievement to be now part of a US publicly-traded company with the international reach to make Tyrrells a global brand."