Jobs saved at Johnstone's Just Desserts
All 150 jobs at a cake factory in East Kilbride have been saved after food processing company Finsbury agreed to take it over.
Johnstone's Just Desserts, which supplies cakes to coffee shop chains, had been in administration and at risk of closure.
Finsbury agreed in principle to buy Johnstone's business, production assets, stock and customer lists.
It said the deal would see all 150 Johnstone's employees being retained.
Completion of the acquisition was conditional on the finalisation of property lease details which both Finsbury and administrators FRP Advisory were working to complete as soon as possible.
Finsbury said it intended to work with the Johnstone's management team at its existing site in East Kilbride to build on its strong customer relationships and market position and drive growth, focusing on its high quality,
Finsbury said it would provide staff in relation to manufacturing and finance, to help ensure a smooth integration process until the deal was complete.
Johnstone's unaudited turnover for 2014 was £9m.
John Duffy, chief executive of Finsbury Food Group, said: "The strength of Johnstone's customer relationships are testament to the quality of its products and we look forward to welcoming the company into the Finsbury Group and providing the resources and investment to develop its full potential over the coming years."