Healthy snack manufacturer Wholebake has been acquired by Elysian Capital III for an undisclosed amount.
The group has purchased the company as part of the wider acquisition of Wholebake’s parent company, Healthful Holdings Group from Bridges Fund Management.
As part of the deal, Elysian Capital III will receive the Welsh company’s two BRC AA- accredited production facilities in Corwen and Wrexham, alongside its product development centre in Chester.
Wholebake is best known across the UK as a snack foods manufacturer targeting weight, digestive health, children’s food and sports performance.
It also produces its own brands Bounce, Brynmor and Nine.
“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,” Wholebake chairman Peter Unsworth said.
“Simon Faithful (chief executive) and I are proud to have played our part in that journey over the last 30 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.”
Elysian Capital III partner Ken Terry added: “The snack bar market is a highly attractive and growing space as consumers continue to transition away from traditional confectionary 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.”