One of Magherafelt's largest employers which is on the verge of collapse, has a new owner.
News that Tayto Crisps boss Paul Allen is set to take over the running of Genesis Crafty later today will come as a relief to its 260 workers.
There has been speculation in the town about the financial state of the family-run company in recent weeks.
McErlain's Bakery was founded 50 years ago by Joe and Roberta McErlain before it was rebranded in 1998.
Their six sons have been running the business since then with Brian McErlain as managing director.
Genesis Crafty supplies of buns and breads to supermarkets in the UK including Marks & Spencer, but is understood to have got into financial difficulties within the last year.
The sale price is not known but further details are expected later.
Responding to the news that Genesis Crafty has been bought by Tayto CEO Paul Allen, Retail NI Chief Executive Glyn Roberts said: “This is very welcome news. Genesis Crafty is a long-standing member of Retail NI and enjoys an excellent relationship with the independent retail sector in Northern Ireland”
“Retail NI members played a important role in supporting the growth of Genesis Crafty.
“I have no doubt that the business will have a very secure future with its new owner.”