Will Chase, potato farmer and owner of Tyrrell's Potato Chips has sold a majority stake in Tyrrell's Potato Chips to private equity firm Langholm Capital for £30 million.
Will Chase has overseen the rapid growth of his premium-end snacks - made using home-grown potatoes - since their launch six years ago. Tyrrells Potato chips had sales of over 13 million pounds in the year to March 2008.
Les Sayers will become chief executive of Tyrrell's Potato chips (CNBC)
Will Chase's deal with private equity firm Langholm Capital values the crisp business at around £40 million, although he retains a significant stake.
Will Chase is now preparing to put his potatoes to another use - vodka.
Using potatoes too small to be made into crisps, Mr Chase's new distillery will be able to produce up to 3,500 bottles of vodka a week.
The distillery is ready to begin production once Tyrrells receives its licence from the HM Customs &Excise, expected this week.
Tyrrells Potato Vodka is another premium product and will retail at around £33 a bottle. Potato vodka, although widely drunk in Poland, is less common elsewhere as most vodka is made from wheat or rye.
