Irish crisp manufacturer Tayto will now be owned by a German company as a stake in the company is set to be sold.

Ray Coyle, whose Largo foods company bought the Tayto brand in 2006 for a reported €68 million, will sell his 25% share in the company to German snack maker Intersnack.

Although Coyle is expected to stay on as chairman of Largo Foods until 2017, Intersnack now has full control of the company, which also owns the King, Perri and Hunky Dory brands of crisps.

The fee that Coyle will be paid for his shares has not been disclosed, but according to The Independent he won't be straying too far from the industry and will be investing in three food based start-ups. 

Via Breaking News