Sandwich manufacturer Brambles Foods has been sold for £22 million by NBGI Private Equity.
The new owner is Adelie Food Holdings, which is backed by Duke Street Capital. Brambles will run alongside Adelie’s existing sandwich businesses, Food Partners and Buckingham Foods.
Richard Morley, NBGI director, said: "Brambles has been a real success story. It has been very rewarding to support an excellent management team, taking a relatively small business at the time of the original buy-out in 2003 and developing it into a major player in its sector."
Brambles manufactures sandwiches, rolls and similar products from its factories in London and Middlesbrough. It has annual sales of around £25 million,
The sale of Brambles realised a return of 4.3 times the original cost of the investment by NBGI.