The deal valued the business at £90m, Equistone said in a statement.
Whitworths supplies branded and own label dried fruit, nut and seed products and holds a market share of 30 per cent in its segment, which has been expanding at an annual rate of seven per cent during the economic downturn.
The company, which posted sales of £157.3m in the financial year to end-April 2013, said it will use the investment to expand its product range as well as for potential acquisitions.
Equistone partner Joyce Church said, “Whitworths stands out as the market leader in dried fruit, nut and seed products, a category with attractive dynamics.
“The management team has delivered on its strategy to date, and we look forward to working with them to help the business continue to develop, expanding distribution and product offering.”
Equistone’s previous deals in the food sector included an investment in Charles & Alice, a French manufacturer of fruit desserts.
Copyright © 2013 AltAssets