Houlihan Lokey Advises KP Snacks

Houlihan Lokey is pleased to announce that KP Snacks, a subsidiary of Intersnack Group, has acquired Tyrrells Potato Crisps Ltd (Tyrrells), a portfolio company of Amplify Snack Brands and The Hershey Company (NYSE:HSY). The transaction closed on 5 July 2018.

KP Snacks is a leading manufacturer of nuts and bagged snacks in the United Kingdom, producing a number of Britain's most iconic snack brands including McCoy's, Hula Hoops, KP Nuts, Butterkist, POM-BEAR, Skips, Space Raiders, Discos, Nik Naks, Wheat Crunchies, Roysters, Penn State, Choc Dips, Brannigans and Frisps. KP Snacks employs over 1,800 people in the UK across six manufacturing sites and is headquartered in Slough, Berkshire. KP Snacks is part of Intersnack Group, a leading producer of savoury snacks in Europe, operating in around 30 European countries.

Founded at Tyrrells Court Farm, Herefordshire, in 2002, Tyrrells is a premium manufacturer of hand-cooked potato and vegetable crisps, popcorn, and other savoury snacks. Tyrrells has successfully built on the brand strength of its core product offering to diversify into other premium snack categories, including popcorn, vegetable crisps, and tortilla chips. Tyrrells markets and sells its products in the United Kingdom, Europe, and other international markets.

Tyrrells was carved out of Amplify Snack Brands, an Austin, Texas-based, high-growth snack food company focused on developing and marketing products that appeal to consumers' growing preference for Better-For-You (BFY) snacks. Its brands SkinnyPop, Paqui, and Oatmega embody the company's BFY mission of "snacking without compromise" and have amassed a loyal customer base across a wide range of food distribution channels in the United States and Canada. Amplify Snack Brands operates as a subsidiary of The Hershey Company.

Houlihan Lokey served as the exclusive buyside advisor to KP Snacks and Intersnack Group. The transaction demonstrates Houlihan Lokey's continued strong franchise in snacks, having advised on four of the largest UK potato crisps deals since 2013 and on six UK popcorn deals since 2016.

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