Nigel Denham, who joins Berties Catering Company as chairman, led the deal with joint managing directors Mike Swallow and Rebecca Shaw.

Brett Woodward who founded the business over 30 years ago, remains on board as an active shareholder.

The company, based in Elland, West Yorkshire, incorporates Berties Banqueting Rooms and an outside catering division.

Law firm Chadwick Lawrence acted for the company, led by Steven Bonfield, head of the firm's corporate division with partner Cheryl Largue overseeing the property side of the deal.

Funding was provided by HSBC in Huddersfield.

The business started out life as Berties Bistro, which Mr Woodward launched in the 1970s.

The company evolved and Berties Banqueting Rooms was launched in 1988.

Over the past 20 years, it has developed into three banqueting rooms including the Crystal Ballroom, the Rennie Mackintosh Room and Number One Brook Street Room.

Mr Woodward will devote his time to the outside catering division, particularly on larger occasions including future events to be held at Carr Hall Castle, near Halifax.

He said last night: "I remain firmly committed to the
business and our complementary skills, including Nigel's business acumen, gives us the opportunity to plan an exciting future including exploring the possibility of purchasing a hotel."

Mr Denham said: "Investing in Berties is a natural progression as I was looking to add to my property portfolio and the business also dovetails well with my interest in the wine and drinks trade."