A Dutch investment group has bought insolvent German cheese maker Käsewerk Sangerhausen for an undisclosed sum.

The Rotterdam-based buyer will continue to employ all 30 employees at Käsewerk Sangerhausen, reports the Mitteldeutsche Zeitung.

Käsewerk Sangerhausen was founded in 1906 and has a good reputation for high quality cheeses. The company filed for bankruptcy on 15 July, blaming financial difficulties arising from a slump in exports due to the war in Iraq which generated a loss of €300,000 (US$342,150).

The company had previously exported cheese in glass jars to Kuwait, and had tried to cut costs by making four employees redundant.

It is reported that the Dutch buyer is keen to keep Käsewerk Sangerhausen operating in much the same manner as it always has.