Plants producer Delamore, which employs 200 people at peak times, has been sold to the German company Volmary.
The family run firm, based in Wisbech St Mary, has announced that Volmary has bought the entire issued share capital of the business.
The move will enable family firm Delamore to double the range of products it is able to offer.
The move comes after a successful year long trial of a sales partnership between the two companies.
A spokesman for Volmary said the acquisition was a key part of the firm’s European expansion plans.
He said a permanent base in the UK was very important to their continued growth plans.
Wayne Eady, Delamore managing director said: “I am delighted with this recent development in our company’s long and successful history and am pleased to be a part of it.
“I have known and respected the core values of Volmary for many years and it was great when we were able to agree to work together for the long run.
“This recent development will enable our company to continue with our sales expansion plans and to bring a more comprehensive range of products to our customers.
“Having new partner backing from a horticultural business, with international production and research facilities will provide many benefits to our customers, who will benefit from the added expertise that comes alongside.
“We can now use more specialised production facilities worldwide that suit the specific variety of plant.
He added: “We have some fantastic plans for the future that will enhance the customer’s experience of working with Delamore and will provide our employees with security and opportunities for the future.”
No job losses are planned as part of the takeover and plans are being developed for the future of the business.
Delamore was founded 55 years ago, specialising in the production of quality young plants,
It operates from two sites in Wisbech St Mary. The main site has 50 acres of land, and 15 acres of new glass with the latest in computer controls and equipment (including under-ground and above-ground heating, lighting, shades, sprinklers, and automatic ventilation) to provide the best growing conditions.
The firm has a team of 12 growers plus more than 100 full time staff.