A food and drink producer in Shepton has changed hands, now owned by Profura, an investment firm from Gothenburg, Sweden.

The firm, which traditionally invests in Swedish companies and those with international operations where it can apply its industrial expertise, sees the acquisition of Framptons Ltd as a strategic alignment with its investment philosophy, particularly noting Framptons' oat drink production.

Profura has a diversified portfolio in industry, development, and real estate, boasting a turnover of £563 million and a workforce of 1,300 across around 45 business units. The company has a robust financial standing, being debt-free with a strong equity position of £407 million, and is founded and owned by Bernt Ivarsson.

Profura's food industry group, has a turnover of £70million.

Bernt Ivarsson, the Founder of Profura Gruppen said: "The acquisition of Framptons represents a significant milestone for Profura.

"With our strong financial foundation and vast industry experience, we are well-positioned to rejuvenate Framptons, aligning it with our vision of sustainable and innovative growth."

He added that Profura recognises the invaluable contribution of Framptons' employees, and is committed to building on the legacy of Framptons in Shepton Mallet, hoping to ensure its continued presence as a "community pillar and an employer of choice" in the future.

The newly formed board of directors, comprising members from both Profura and Framptons, is dedicated to steering the company towards a bright future.

Andrew Rimell will lead the business as managing director.