A MANAGEMENT buy-out of one of Darwen's biggest employers is set to go through.

More than 90 per cent of Wolstenholme Rink shareholders have now agreed the £48.7million buyout.

The firm's shares will be taken off the stockmarket following the deal.

Last month, bosses at the Darwen-based firm announced the management buy-out but assured workers that no redundancies were expected as a result of the move.

Wolstenholme Rink employs 650 people and specialises in sales to the ink and printing ink industry all over the world.

The buy-out has been put together by a group of investors and existing directors of Wolstenholme Rink.

The move will mean that the firm is split into two with the Darwen-based site operating as Wolstenholme International with existing directors including Paul Rink, Andrew Rink, Chris Ravenscroft, and two directors from the Rutland Trust at the helm.

Director Chris Ravenscroft said: "We are hoping to consolidate our position as a result of this move.

"As a public company we were under enormous pressure to do things we didn't want to do, and we feel that as a private company with strong bank backing we can push forward and make the firm more successful."