A Bahraini private equity group has splashed out £100 million on a company that prides itself “on selling a little bit of England”, one crisp packet at a time.

Investcorp has bought Tyrrells Potato Crisps — best known for its hand-cooked parsnip, beetroot and carrot crisps — from another private equity firm, Langholm Capital.

Langholm and a few senior managers, including David Milner, the chief executive, will share the proceeds from the sale, it is understood. Senior management will also continue to hold a minority stake in the company alongside its new owner.

Mr Milner, who will remain at the helm, said