Tyrrells has proved a tasty investment for Langholm Capital. The private equity firm bought the company for £30m in 2008 just before the global financial system went into meltdown and today sold it on to Investcorp for £100m.

That is an impressive result given just how hard the last five years have been for food and drink suppliers.

Tyrrells has gone from strength to strength over that time. Turnover has climbed from £12m to around £50m, the company has built a strong international business and the number of employees has increased from 100 to 270.

Having paid out £100m, Investcorp will be hoping to keep up the momentum. It won’t be easy. Tyrrells faces more limited opportunities for growth at home and an increasingly crowded premium crisp market. Abroad, Tyrrells faces tough competition from the likes of Kettle Chips, which is looking to capitalise on growing interest in more upmarket crisps.

However, under CEO David Milner, Tyrrells is doing all the right things. Its NPD carries on apace. Over the past year, it has launched pork scratchings, extended its popcorn range and brought out new crisp flavours.

And Milner is working hard to grow the international business – setting aside one week in every four in 2013 for international travel. The push has delivered results. This year it has gone into 850 Publix stores in the US and signed a deal with 7-Eleven stores in Japan to sell three flavours of crisps in 5,000 stores.

The price tag may look high, but Tyrrells could well prove a good investment for Investcorp.

Coincidentally, Tyrrells founder William Chase has also just made a big investment. According to The Telegraph, he has sold his holiday home in Ibiza and his 80ft yacht to buy a vineyard in the south of France for £3m.

The industry needs more people like Chase. The building of successful brands from scratch is increasingly rare and in Tyrrells and Chase Vodka he has created a couple of great brands. Let’s raise a glass to his latest venture.

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