Ireland's favourite snack manufacturer is on the market once more. Tayto has been put up for sale by its US owner, TLC Beatrice, with industry sources expecting bids in the £70 million to £90 million range.

The news is a mixed blessing for the plant in Coolock in Dublin, which has had a hard time persuading its present owners to invest in the Irish operation outside of marketing. Plans have apparently been laid to centralise manufacturing at a new site in Ballymount, on the other side of the City, requiring an investment of £20 million plus.

A new owner might provide the resources to upgrade facilities to allow the brand hold its own in the fiercely competitive snack foods market.

Then again, that depends on who eventually buys the operation. Among those who have had a look at the operation in recent months are thought to be Cantrell & Cochrane, which is looking to diversify its drinks business, and Walker Crisps, PepsiCo's European snack foods division.

However, the favourite bidder is thought to be a large UK venture capital house, in a deal which would leave the current management team in charge and with a small stake. Given the strength of the brand and its strong flow of earnings, many of the rest will be bitterly disappointed if this is the outcome.