Crisp firm linked to buy-out offers

The founder of British crisp company Tyrrells could be in line for a multi-million pound windfall after the potato farmer was approached about the sale of a stake in the business, it was reported today.

William Chase, who took Tesco to task in a public spat nearly two years ago, is believed to have attracted approaches from private equity firms looking to invest in the firm, which could value Tyrrells at more than £20m (€26.9m).

Herefordshire-based Tyrrells is thought to be taking proposals through to the second stage, according to The Daily Telegraph.

Corporate financiers BDO Stoy Hayward are said to be leading the process after reportedly being hired to carry out a strategic review of the crisp firm following a number of unsolicited approaches.

Tyrrells declined to comment on the speculation, saying it was “business as usual as far as we’re concerned”.

Mr Chase launched the company in 2002 after turning to making crisps when his margins as a potato farmer were wiped out by the supermarkets.

His company policy is to sell the crisps only on the independent market, through delicatessens and Waitrose, which actively supports locally produced foods.

Mr Chase claimed a victory with Tesco in 2006 when he found the group was stocking Tyrrells Potato Chips at reduced prices, forcing the chain to take the crisps off it shelves and pledge to boost links with local suppliers.