Taranaki baking business Yarrows (The Bakers) has been sold by receivers BDO to a member of the founding family, John Yarrow.
He had originally sold his stake to his brother Paul in 2005, resulting in a legal fight within the family when Paul took him to court over a purchase
price he alleged was too high, before settling out of court.
The sale, which also includes a solvent Rotorua company, Gilles Bakery, was for an undisclosed sum and follows a five-month search for a buyer by accounting firm BDO, which was appointed receiver in May.
Receiver Brian Mayo-Smith called it "an excellent result for customers, suppliers, staff and local communities alike".
He said other companies in the Yarrows Group operating in Australia were unaffected and trading normally.
