Suttons Seeds commercial director David Robinson and operations director Rufus Roberts have led a management buy out (MBO) of the Devon-based company.
A Suttons statement said: "The Suttons team are delighted to announce that former owner Limagrain through Vilmorin & Co, with the TDA, Torbay Council's economic development company have facilitated and supported the MBO of Suttons Consumer products effective December 1 2014.
"This is a significant agreement that combines the desire for Limagrain to find the right future for Suttons and the goals of Torbay Council to retain and promote busienss in the area. This deal ensures continued employment and growth for Suttons as well as providing a springboard for new business."
Limagain said Suttons has become "less central" to its core business so it has "actively contributed" to the MBO. Limagrain bought Suttons 15 years ago.
New managing director Robinson said: "Suttons have plans to launch innovative and new products, for both our faithful as well as new and budding customers, as we continue to focus both on direct and consumer markets."
See more in Horticulture Week 12 December.