Chester-based Wholebake has announced its acquisition by Elysian Capital III LP as part of the latter’s purchase of parent company Healthfull Holdings Group Limited from Bridges Fund Management.
Founded in 1984, the B Corp company co-manufactures functional and gluten-free snacking products – including bars, balls and bites – to support weight management, sports nutrition, toddler snacking, healthy indulgence, vegan-friendly and digestive health, alongside its own brands Nine, Bounce and Brynmor.
As well as its product development centre in Chester, Wholebake operates two BRC AA- accredited production facilities in Corwen and Wrexham, and employs over 360 people.
“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,” comments Wholebake chairman Peter Unsworth. “Simon Faithfull (CEO) and I are proud to have played our part in that journey over the last three years and we would like to thank Bridges Fund Management for their support during our time here.
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
“We now look forward to the next chapter in the Wholebake story with our new partners, Elysian Capital. Their values and culture strongly align with our own and we are delighted that they will be partnering with us in Wholebake’s next phase of growth.”
Ken Terry, partner at Elysian Capital, adds: “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 organization. Elysian are very pleased to be supporting the team as they continue to grow the business’s branded and own-label offerings.”