Upmarket crisp manufacturer Tyrrells has agreed to a £300 million buyout offer from an American company.

The company - Texas-based Amplify Snack Brands - announced its takeover of Tyrrells on Monday. Herefordshire farmer William Chase, who launched the Tyrrells brand in 2002 did so to increase the return he got for growing potatoes, rather than selling them on to retailers.

Chase sold Tyrrells in 2008 to Langholm Capital for £40m. The company has since grown enormously; in 2013 it was bought by Investcorp, based in Bahrain, for £100m, before being acquired by Amplify for three times that price.

40% of Tyrrells’ sales are on international markets, and the acquisition could see it expand its reach into North America.  

Tyrrells’ chief executive David Milner stands to become president international of Amplify upon completion of the deal.