Bridgepoint exits Golden Wonder

The UK private equity firm has doubled its original investment by selling its interest in the snack manufacturer.

Bridgepoint Capital has sold its controlling interest in UK-based Golden Wonder to trade buyer Longulf, owners of The Snack Factory.

Bridgepoint acquired the firm in a secondary buyout from Legal & General Ventures in October 2000. The purchase price at the time was £156.5m. The transaction price for the latest deal has not been disclosed, although it is understood that Bridgepoint will achieve a return of more than double its original investment.

The deal, which is currently being reviewed by the Office of Fair Trading, is expected to complete within the next six weeks.

Bridgepoint’s exit from Golden Wonder is the latest in a series of deals to be completed by the firm this year. Last week the firm disposed of its 50.5 per cent stake in Leicester-based Keenpac Holdings as part of a £20.5m secondary buyout. Earlier this month, Bridgepoint held a final closing of its Second European Private Equity Fund (EPEF II) at just over E2bn, ahead of the fund’s original E1.6bn target.