A Herefordshire potato grower who had a public fall-out with supermarket giant Tesco could be set to make millions from the sale of a stake in premium crisp manufacturer Tyrells.

Will Chase has ordered a strategic review of the business and it is likely to be valued at more than £20m.

He has appointed corporate financiers at BDO Stoy Hayward to carry out the analysis after receiving a number of unsolicited approaches for the company.

It is has been reported that first-round proposals from a small group of private equity firms were due in last week and meetings with those taken through to the next round will take place over the next few weeks.

But it is understood that Chase has no plans to exit the business.

The potato grower started making crisps at his farm in 2002, when a big manufacturer rejected a batch of his potatoes. He decided to sell only through upmarket delicatessens and Waitrose, claiming that, as a potato farmer, he was virtually wiped out by supermarkets’ demands for low prices.

The spat with Tesco kicked off after Chase learned that the retailer was selling Tyrrells products at a reduced price in 70 stores.

Tesco eventually backed down following several complaints.

The crisp manufacturer now plans to use a £5m regional prize it won in the Bank of Scotland’s Corporate £25m Challenge to build a distillery at its Herefordshire farm, to make vodka out of potatoes that are too small to turn into crisps.

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