British media sources have reported that Bernard Matthews has been acquired by Ranjit Boparan for the Boparan Group from Rutland Partners.

None of the parties has yet commented officially on the deal, but The Telegraph reports that the “pre-pack administration” deal involves the transfer of all assets to the new owner and the preservation of 2,000 jobs.

The Boparan Group includes 2 Sisters Food Group, the largest chicken producer in the U.K.

“We intend to respect and build on the 66-year heritage of a much-loved British brand and crucially help to deliver Christmas 2016, which would have been at risk without our intervention,” a spokesman for Boparan's private office told The Telegraph. “We have a proven track record in turning around businesses and we aim to make Bernard Matthews great again.”

Based in Great Witchingham, Norfolk, Bernard Matthews became an iconic brand in the 1970s under the leadership of its founder of the same name, but the business has suffered many challenges in recent years, including a costly outbreak of avian flu.

The intended sale of Bernard Matthews was announced in June of this year, following the appointment of a new chairman in April.