Food Strategy Associates provide Vendor Due Diligence to support Bridges Fund Management with the sale of Wholebake Limited to Elysian Capital

London (31st July 2021) – Food Strategy Associates Europe LLP (FSA) are delighted to have provided both Commercial and Operational Due Diligence to support the successful sale of Wholebake Limited by Bridges Fund Management to Elysian Capital.

Wholebake is a leading manufacturer of healthy bars and snacks headquartered in Corwen, Wales. Wholebake’s extensive portfolio includes fruit bars, gluten-free, flapjack and baked bars, sports nutrition and immunity-enhancing bars. It has a diverse customer base of innovative market-leading and fast-growing brands and national retailers. In 2021 Wholebake was awarded B corp. status in recognition of meeting the highest verified standards of social and environmental performance, transparency, and accountability. In addition, Wholebake was awarded ‘Free-From Manufacturing Company of the Year’ at the prestigious Food Manufacture Excellence Awards 2021.

Food Strategy Associates were appointed to advise Bridges and Wholebake management in objectively assessing and articulating the commercial and operational opportunity for potential investors in a highly dynamic segment of the snacking market. Extensive market and operational analysis was undertaken in the context of Covid-19, demonstrating FSA’s ability to operate flexibly and collaboratively with all parties involved in both the sell- and buy-side of the sale process. Food Strategy Associates leveraged its experienced partner base with project leadership from Ian Weston, commercial led by Stuart Wilson and operational led by Nigel Devine, overseen by Managing Partner, Robert Lawson. This team demonstrates Food Strategy Associates’ unique hybrid model with decades of blue-chip food industry expertise and consulting experience between them.

Oliver Wyncoll, Senior Adviser, for Bridges said “Food Strategy Associates were the ideal advisers for commercial and operational due diligence for Wholebake. They have a deep understanding of the sector and its complex market dynamics and are expert in the manufacturing and planning disciplines which underpin the management plan. FSA rapidly cut through to the key issues and supported us in clearly and professionally communicating value to investors.”

Peter Unsworth, Chairman, for Wholebake said “Food Strategy Associates brought food sector know-how and consulting rigour to the process. Being food industry specialists and former practitioners themselves they know how food businesses really operate, and quickly gained the trust of business leadership. Their high levels of expertise and candour coupled to a supportive and can-do attitude throughout the process made them the ideal partner for Wholebake.”

Robert Lawson, Managing Partner, for FSA said “As food industry operators and experienced senior consultants, we work well alongside management, owners and advisers and we are delighted to see a successful sale to Elysian Capital. This transaction further cements our position as No. 1 provider of commercial due diligence on UK food sector transactions”.

Notes to Editors

Food Strategy Associates Europe LLP provides advice on the food manufacturing sector to those operating within the industry and to those seeking to invest in it.

Media Enquiries

Please contact Robert Lawson on or 07810 756957