Bridges Ventures has purchased Welsh cereal bar maker Wholebake.
The transaction was overseen by Oliver Wyncoll, who recently joined the firm from Langholm Capital where he led the Dorset Cereals acquisitions and exits. Dorset Cereals is now owned by Associated British Foods.
Wyncoll said he was looking to invest between £3m and £15m of equity in small consumer businesses with strong growth potential. He said Wholebake, which makes the 9 Bar brand of seed-based snack bars, was an attractive purchase because its products were healthy and fitted consumer trends.
The business is also a big employer in an area where jobs are scarce and the investment from Bridges Ventures is expected to create 60 more jobs over the next three to five years.
Wholebake already operates in Northern Europe, France and the Czech Republic and more overseas business will be developed.