Chips maker Intersnack increases stake in Largo Foods

Ray Coyle, founder of Irish potato crisp maker Largo Foods, is selling a 25 percent stake in the company to German snack maker Intersnack, the Sunday Times reported, citing an interview with Coyle.

Coyle is selling a further 11 percent stake in the company, based in Ashbourne, south of Dublin, to a private German investment firm, the newspaper said. Intersnack already owns 15 percent of the Irish firm, according to the Sunday Times.

Coyle aims to double the size of the company in five years and needs additional capital for the expansion, the newspaper said. Coyle didn’t disclose the size of the deal, the Sunday Times reported.