More than 500 jobs have been saved after Staffordshire's biggest biscuit factory was sold to new owners.
2 Sisters Food Group announced it was closing the "significantly loss-making" Elkes Biscuits factory - formerly Fox's Biscuits - in Uttoxeter last year.
Now the Birmingham-based group has revealed that it has sold the Cheadle Road site to wealth management firm Boparan Private Office - which owns well-known brands including Bernard Matthews, Carluccios, Giraffe and Ed's Easy Diner.
The move has prevented the loss of 520 jobs at Elkes Biscuits - the town's biggest employer - which is best known for creating the famous Malted Milk biscuit. It has been based in Uttoxeter since 1908.
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Site director Kevin Hand said: "We're really delighted to be able to continue the 100-year-old biscuit-making story in Uttoxeter now we have a new owner.
"The opportunity with the Boparan Private Office opens up a fresh new chapter for us and gives us the best possible chance to grow and develop the business.
"What became apparent last year when there was so much uncertainty about the future of the factory was just how much the local community loved and cared for Elkes Biscuits. Many generations of families have either worked here or still work here, and it clearly means so much to so many people.
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"So to be able to announce this great news and save this site and the hundreds of jobs that go with it will hopefully bring a smile to many people's faces. But the hard work starts now: we want to build a long-term sustainable business here and bring through more generations of people.
"There will hopefully be more opportunities for people locally as we grow with our new owner. It’s a very exciting time for all of us."
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An Elkes Biscuits spokeman said: "We are very pleased to announce that Elkes Biscuits in Uttoxeter has been sold to the Boparan Private Office (BPO).
"This sale ends a period of uncertainty for the site after the consultation with colleagues at the end of last year about a proposed closure of the factory. We were always clear that we were looking to find a purchaser of the business as an alternative to closure, so it is very satisfying to successfully complete this transaction.
"This is good news for the business and the town, securing the immediate future of the site and keeping alive the 100-year biscuit-making heritage in Uttoxeter."
Union reps at Unite have welcomed the sale.
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Unite regional officer Rick Coyle said: "There is a great sense of relief that the Private Office of Ranjit Boporan will now take over Elkes Biscuits, Uttoxeter's biggest employer, from the 2 Sisters Food Group. This removes the threat of closure to the Cheadle Road site, formerly known as Fox's Biscuits.
"This is excellent news for the 500 employees, who have experienced an anxious time. We understand that the plan is to increase volumes and this would mean the employment of more production workers, which will be a boost for the regional economy.
"Unite looks forward to working constructively with the new management team and to build on the Elkes Biscuits' current range of popular Victorian-style biscuits."