Lion Hudson, the Christian publishing group, has been rescued from administration and bought by the umbrella company AFD Group.
The private business owns an array of Christian-related media, software and technology products and is run by David Dorricott and his wife Alison.
Christian Today revealed the Oxford-based publisher Lion Hudson was filing for administration in February and making two-thirds of its staff redundant.
Now the 15 staff remaining will keep their jobs at the award-winning company, with AFD Group described as 'ideal owners' by the business administrator FRP Advisory, who negotiated the deal.
The financial details have not been disclosed but FRP Advisory's Nigel Hamilton-Smith said several possibilities had been considered and AFD Group proved was the 'best possible outcome for all involved'.
He said: 'This is a great result for a long-standing publishing business with a unique history and offering.'
AFD Group is based in the Isle of Man and has more than 50 staff there and in the UK, France and USA. The Group's stated aim is 'to generate profits, and to use them creatively in the relief of suffering, the improvement of society and furtherance of the Christian gospel'.
David Dorricott, managing director of AFD Group, along with his wife Alison also have an extensive property portfolio including Mountain View Innovation Centre and are developing a movie series to help introduce children to the Bible. He is also involved with helping run Spring Harvest Holidays.
Of his new acquisation Dorricott said: 'Lion products have been a high quality support to my own discipleship journey for over four decades. Alison and I are thrilled that together we can help Lion expand and develop its product range and distribution so that thousands more disciples across the world can benefit from their insights and teaching.
'With our three young grandchildren growing up in an increasingly secular world, Lion's range of children's books seems to us to be without equal in ensuring they learn to know and love the Word of Gd – and get to know their saviour.'
Lion Hudson PLC will now become Lion Hudson Limited, a new company controlled by AFD Group.
The previous managing director Susanne Wilson-Higgins and finance director Caroline Gregory will become the new directors of Lion Hudson Limited.
Wilson-Higgins said: 'The past six months have been challenging times and we have been upheld in the Lord by the prayers of our supporters including staff, authors, illustrators and trading partners in the UK and around the world.
'We are thankful for tremendous support we have received and are very pleased that a positive outcome has been achieved for the company and staff. Lion Hudson can now move forward with the robust support ofthe AFD Group.'
