The crisp maker has chosen the state of Victoria as the base to expand its brand into the Australian and Asia Pacific markets.
Tyrrells acquired Yarra Valley Snack Foods in August 2015. The Australian factory will also continue to produce its own popular lines of snacks.
Tyrrells, which was founded in 2002, produces a range of crisps, popcorn, rice crackers and tortillas using locally-sourced ingredients.
In May, the company purchased German organic crisp maker Aroma Snacks for an undisclosed sum.
Bought by Investcorp
This purchase was the second such deal since Tyrrells was bought by Investcorp for £100M in 2013.
Tyrrells ceo David Milner said:“Quality is at the very heart of everything we do, and we found that there was nowhere else able to match, in terms of what was available to us, the Yarra Valley region in Victoria.
Tyrrells acquisitions
Aroma Snacks – May 2016
Yarra Valley Snack Food – August 2015
“Victoria is a very straightforward place to do business and that helped inform the decision making process for us, having our headquarters on the other side of the globe.”
Wade Noonan, minister for industry and employment in Australia, today welcomed Tyrrells’ decision.
He said: “The Andrews’ Labor Government is working with companies like Tyrrells to bring in investment that creates jobs across Melbourne and regional Victoria.”
New jobs created
He also welcomed news of the new jobs created in the city.
“This investment will create 120 manufacturing jobs in Melbourne’s outer east and also support Victorian farmers, with the company sourcing high quality raw ingredients from the local region.”
The member for Eastern Victoria Daniel Mulino said: “This is fantastic news that will bring economic opportunities and more jobs to the Yarra Valley.”
Based at Tyrrells Court Farm in Hertfordshire, the company exports to more than 37 countries and expects brand value to reach £230M this year.
Marketing research firm Nielsen reported that value sales at the crisp maker in the UK rose by 17% in the 2016 financial year.
The snack maker had a gross profit of £21.9M during the 2014/15 financial year.