Thu, 23 Jan 2025 | BUSINESS SALE
Private equity-backed Bramble Foods Group has bought a chocolate maker which dates back to the 19th century.
Whitakers Chocolates has been a major part of British chocolate-making for 135 years, supplying confectionery for retail, private label, and food service markets. Its range includes creamy truffles, chocolate and honeycomb treats and peppermint creams.
Market Harborough-based Bramble Foods Group is a family-run business, set up in 2008 by brothers, Nigel and Tony Foster and industry stalwarts, Chris Neville and Ken Osborne. It has around 150 employees.
The group, which received backing by private equity firm LDC in 2022, manufactures and distributes a wide range of fine, ambient foods, specialising in the independent retail and gift market. Products include cakes, biscuits and chutneys.
It posted revenues of £27 million for the year to 31 December 2023, up 24.6 per cent on the previous year. Most of those sales came from the UK but it also noted £400,000 worth of demand from Europe and £3,000 from the rest of the world.
EBITDA over the period rose 57.1 per cent to £3.96 million.
The acquisition builds on a working relationship spanning 17 years, during which Whitakers has been a key supplier to Bramble Foods Group.
It also follows Bramble Foods’s purchase of chutney maker Bay Tree Food in December 2023.
William Whitaker, managing director of Whitakers Chocolates, said: "As a fourth-generation member of the Whitaker family, chocolate has been at the very heart of my life for as long as I can remember. I am delighted that Whitakers Chocolates have joined the Bramble Foods Group as it is a wonderful opportunity to share our knowledge and invest for the future together. “
Foster, Bramble’s managing director said: "Whitakers is a well-run business with a long history of producing excellent products. This, coupled with a broad customer base and dedicated team of employees, attracted us to the business. As a family, Whitakers is our longest standing supplier having worked together for over 40 years."
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