The business, which operates from four primary manufacturing locations in the UK and a further facility in Poland, will be renamed once the deal closes.
Existing customers include the UK’s major supermarket chains.
The private equity backers are supporting a new chief executive, Andrew Johnson, who formerly led a buy-in into Elisabeth the Chef in 2004, another supplier of private label cakes.
NBGI’s investor director Richard Babington (pictured) said: “We are delighted to be backing Andrew in his second buy-in in the food sector after a long search, working closely with him to identify the right buy-in opportunity for his skills.”
Babington will join the board along with Johnson.
McCambridge is one of the leading bakery companies in the UK – baking one in ten of every retail pre-packed cakes and pastries in the UK.
It employs more than 1,100 people.