TLT advised the existing management team of Wholebake, a healthy snack bar manufacturer best known for the Free From brand 9bar, on its sale to a company backed by Bridges Ventures LLP.
The TLT team, which included corporate partner Jon Close, also advised Wholebake’s management on their investment in the new company.
TLT’s Jon Close said, “This secondary buy-out enables Wholebake to implement the next stage of their ambitious growth strategy, particularly regarding the 9bar brand. We are delighted to have advised our long-standing client and we look forward to supporting the management team and Wholebake going forward.”
Wholebake’s Managing Director and major exiting shareholder, Mark Gould said, “This is the fourth transaction I have worked on with Jon and by far the largest. At times the complexity of the legal documentation and mechanics of the deal process were incredibly daunting, but throughout the entire negotiations Jon Close and Richard Life provided clear, concise and constructive advice and support, and got the deal over the line. Both my business partner Richard Shaw and I are hugely appreciative of their efforts.”
Earlier this year TLT’s Corporate team advised Matthew Clark, the leading national drinks agency and wholesaler, on its acquisition of a 51% stake in Elastic, an on-trade experiential and digital marketing agency. The team also advised The Bart® Ingredients Co. Ltd, a market leading manufacturer of condiments and seasonings, on the acquisition of the business and assets of OTP Foods.