William Chase, the UK-based founder of Tyrrells Crisps, has sold his remaining shares of the premium crisp brand to private equity firm Langholm Capital.
Chase said that he had "divorced" the brand in order to plough his energies into his premium vodka range.
He said that his next move would be to create a selection of 'limited edition' premium alcoholic drinks.
The entrepreneur launched the business in 2002, before setting up and running a fully functional factory and brand within six months.
Six years later, he sold a major stake of the business to Langholm, as he began his distillery business, which focused on creating vodka from potatoes.
Chase aimed for the premium end of the vodka market and used potatoes from his own farm. He said he was "keen to create quality vodka which was entirely British and had provenance". The potatoes used in the vodka are grown, mashed, fermented, distilled and bottled as artisan vodka on the Herefordshire farm.
Chase has said that he will now concentrate on his next move in the premium drink business.
He said: "I am now divorced from Tyrrells and feel broken hearted saying goodbye to my baby, however it is time for me to move on and focus all my energies into developing Chase Distillery, which is now firmly established and has huge potential."
The distillery's potato vodka, gin and liqueurs are now being distributed all over the world. Despite demand from the US, China and Europe, the company will remain to hand make each batch of vodka.
Chase added that he would be launching a series of limited edition vodka in 2011.
Earlier this year, the entrepreneur's ‘Chase Vodka' received the accolade of ‘World's Finest Vodka' from The San Francisco World Spirit Awards. It beat 249 rivals from around the world, including the output of Russian and Polish Distilleries.
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