US chocolate large Hershey turns bitter on style of Tyrrells
The British crisps model Tyrrells is heading for its third proprietor in little greater than 18 months because it faces being ditched by its new American mother or father.
has learnt that Hershey, the US confectionery large, is on the early levels of exploring choices for Tyrrells, which was based on a Herefordshire farm by William Chase 15 years in the past.
Hershey is known to be planning to deal with the sale – if it decides to pursue one – itself.
An public sale would come lower than 4 months after the chocolate-maker purchased Tyrrells’ proprietor, Amplify Snack Manufacturers in a $1.6bn deal.
A call to dump Tyrrells would symbolize one thing of a shock, since a diversification away from confectionery and into the broader snacking market was seen as one of many key drivers of the Amplify takeover.
For a comparatively younger firm, Tyrrells has already undergone an unusually massive variety of possession adjustments.
It was initially backed by Langholm Capital, a personal fairness agency, earlier than being bought to Investcorp, a Bahrain-based investor, in 2013.
Amplify then acquired the enterprise in a deal reported to be price £300m in 2016.
Sources stated on Monday that Hershey was unlikely to command a price ticket for Tyrrells which might recoup the cash spent by Amplify 15 months in the past.