C&C agrees to sell Tayto Crisps Ltd

C&C Group have announced that it has agreed to sell Tayto Crisps Limited to Largo Food Exports Limited for €62.3m.

The sale is expected to go through before the end of the year.

For the year ended February 28, 2006, Tayto generated operating profits (before exceptional items) of €5.8m on turnover of €47.3m.

Maurice Pratt, Chief Executive of C&C, said: "The Board of C&C is pleased with the agreement reached to sell Tayto to Largo.

"The price achieved for Tayto recognises the value of its iconic brand position in the Irish market. Following the sale, the Group will continue to focus on sustainable growth opportunities within its brand portfolio."