Northern Irish Tayto Spent £387,000 On Acquisitions Last Year
Published on Apr 10 2018 9:35 AM
The parent company of Northern Irish Tayto crisps, Manderley Food Group, spent some £387,000 (€444,000) on acquisitions last year, according to The Sunday Times, Ireland Edition.
The UK’s third largest snack maker bought a 75% stake in Devon-based Portlebay Popcorn and brought it out of administration in January 2017, alongside two former shareholders.
In March 2017 it bought a minority stake in Ape Snacks, a startup founded by Zack Nathan, 23, after he dropped out of Cornell University in the US. Manderley’s turnover increased by 6.5% to £174 million in the year to 1 July 2017, but it’s EBITD fell by 9.9% to £9.4 million.
Manderley, which is the sponsor of Northern Ireland’s golf Open, warned that “Brexit currency exchange rate movements and raw material price inflation will present competitive challenges for the business in subsequent financial periods”.
The company was founded in 1956 in Co Armagh by the Hutchinson family and moved its headquarters to Britain in 2006.
The Northern Irish Tayto operates completely separate from the company Tayto Crisps in the Republic of Ireland, however, they both produce similar products.
© 2018 Checkout – your source for the latest Irish retail news. Article by Kevin Duggan. Click subscribe to sign up for the Checkout print edition.