A historic maltings whose Norfolk farming roots stretch back 150 years has been bought by a major Canadian food processing company.
Crisp Malt, founded in 1870 at Great Ryburgh, near Fakenham, is part of the Anglia Maltings Holdings (AMH) group which has been acquired by Richardson International.
The purchase - for an undisclosed sum - also includes AMH's other two businesses, Essex-based Edme Food Ingredients and Yorkshire-based Micronized Food Products.
Its bosses welcomed the deal as "hugely beneficial" for the firm and its Norfolk maltings, which processes the county's world-renowned barley into malts for breweries, distilleries and craft ale manufacturers across the globe.
AMH chief executive Stuart Sands said it would also help "deliver on our ambitions for new ingredients, and open new doors for our businesses".
"It is fantastic that this highly regarded, successful family company is keen to support and invest in our three businesses: the backing will take us on to a new level," he said.
Mr Sands said the Richardson deal will not mean cuts to the AMH operation, which employs 370 people, including about 60 in Great Ryburgh.
"We have spoken to employees across the organisation, and the view in general is that this is a very positive move for the business," he said.
"If anything there will be more investment into the maltings.
"Richardson started in the 19th century in Canada, but their values are aligned to ours in the way they look at opportunities for business and investment.
"They are a company that has invested in industry for a long time - they are not guys who come in and try to change everything."
READ MORE: Crisp Malt director Bob King retires after 35-year career
Richardson International processes Canadian-grown oilseeds and manufactures oil-based food ingredients. It also processes oats and durum wheat with operations spanning Canada, the US and the UK.
Chief executive officer Curt Vossen said the company had been seeking an opportunity to enter the malting industry as a "natural extension of our food processing business".
"This acquisition brings together two companies that share a common mission," he said.
"We have great confidence in Anglia Maltings – and their management team – and believe we will find additional synergies and opportunities to grow the business."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here