Yeast company GB Ingredients and sister business BFP Wholesale have been bought by French-based yeast group Lesaffre for an undisclosed sum.
Dr Mike Chell, MD of GB Ingredients (GBI) told British Baker it would be "business as usual" under independently-owned Lesaffre: "I am delighted for both our staff and our customers.
"This is a good move which takes us into the world’s number one yeast manufacturer and supplier with all the know-how and value that can be delivered to our customers."
He added that no job losses were expected among the 114 staff at GBI’s offices in Felixstowe.
Nick Harris, MD of Kent-based bakery ingredients wholesaler BFP Wholesale, which employs 182 people at six depots around the UK, added: "I am delighted with this change in ownership, which is good for staff, for customers and for the business."
A spokesman for Lesaffre said the deal would make the two companies part of a long-term strategic investment and allow Lesaffre to become a domestic manufacturer of yeast in the UK.
The deal was "a very positive move, taking GB Ingredients and BFP Wholesale out of private equity ownership and back into a committed major manufacturing group," it said.
Both GB Ingredients and BFP Wholesale were bought by private equity company Gilde Investment Management from DSM in 2005.
Lesaffre’s acquisition of shares in the companies is effective immediately and includes all commercial and operational activities of the UK businesses.
Yeast and yeast extracts giant the Lesaffre group owns factories and companies in countries around the world.