JOBS at an upholstery manufacturer are safe, despite the business being sold.

Family-run Alstons, in Gosbecks Road, Colchester, has entered into a joint venture, including its existing management team, with Thailand Carpet Manufacturing.

The company, which was set up more than 60 years ago, was sold for an undisclosed sum.

It has experienced a growth in sales over recent years and employs 240 people.

Staff at the Colchester site will not be affected by the deal and the management team will continue the day-to-day running of the business.

In a joint statement, owners David and John Alston, said: “We have had a number of approaches for our business, but it was clear the combination of the existing management team and Thailand Carpet Manufacturing was the best way forward in so many ways.

The culture, commercial knowledge and investment into the company will benefit Alstons immensely.

“As owners of a family business, with a long history in Colchester, the decision to sell wasn’t an easy one, but we both felt the time was right to explore other opportunities and we are confident Alstons will further prosper under its new owners.

“We cannot thank our past and present staff enough for all their efforts under our family’s ownership.”

David Alston will remain involved with the business as an adviser, focusing particularly around designs and the creative aspects.

Philip Grindrod, who becomes managing director of Alstons, said: “The change of ownership marks the start of a new phase in the company’s future.’’

The management team will hold a significant shareholding in Alstons, with Thailand Carpet Manufacturing holding the majority of the shares.