The details of the deal were not disclosed.

The deal comes after its parent company, Novel Group, was put into administration. The Cheese Company employed 300 people and generated a turnover of £76.3 million.

Yorke said: “This is a hugely successful company and I believe this move will only enhance the brand and take the business from strength to strength.”

He added: “We have a very strong market share and will increase that with our brilliant products and first-class staff. We also believe our customers can only be re-assured by the fact the company is back in the hands of the founding management team. It is business as usual.”