Commenting on the purchase, Wholebake chairman Peter Unsworth said: “For the last 30 years Wholebake has worked closely with its brand partners to create great tasting and healthy snacks, and firmly established itself as a major employer in the local community.
“Simon and I are proud to have played our part in that journey over the last 3 years and we would like to thank Bridges Fund Management for their support during our time here. We now look forward to the next chapter in the Wholebake story with our new partners, Elysian Capital.”
Bridges acquired a controlling stake in Wholebake in 2013 providing an exit to previous backer Finance Wales, hwihc had previously facilitated a management buyout of the company in 2011.
Ken Terry, Partner at Elysian Capital, added: “The snack bar market is a highly attractive and growing space as consumers continue to transition away from traditional confectionery into tasty and healthier alternatives.
“Wholebake is the go-to co-manufacturer for brands and retailed own label in the UK. We have been highly impressed by the team culture and community feel Peter and Simon have fostered, and the strength and calibre of the people across the whole organisation. Elysian are very pleased to be supporting the team as they continue to grow the business’s branded and own label offerings.”
Founded in 1984, Wholebake produces gluten-free snacking products from its home-base in Chester and BRC AA-accredited production facilities situated in North Wales.
Wholebake's current portfolio includes a variety of product types including weight management, sports nutrition, toddler snacking, healthy indulgence, vegan-friendly, digestive health and mainstream better-for-you brands.
The company has established itself as the premier snack bar co-manufacturing partner to third-party brands, as well as its own brands Brynmor, Nine and Bounce.
Meanwhile, Bardsley England, the fruit farming operation and the UK's second largest apple grower supplying top supermarkets, has been acquired by global agriculture group Camellia.