Amplify Snacks Brands Inc. (NYSE: BETR) has agreed to purchase potato chips and popcorn manufacturer Tyrrells from Investcorp for about £300 million ($391 million). Financial deal terms call for Amplify to pay the sellers around $362 million in cash and 2.1 million shares in common stock.
Tyrrells, founded in 2002 and based in Herefordshire, England, is known producing popcorn, potato chips and tortilla chips under the Tyrrells brand. The target generated $111 million in net sales for the 12 months ended June 30. The transaction will allow Tyrrells to grow in the U.S., while it gives Austin, Texas-based Amplify a chance to expand globally. Amplify owns the Oatmega protein bars, Paqui tortilla chips and the SkinnyPop popcorn brands. Amplify went public in 2015.