Robert Wiseman Dairies has refused to rule out closing Definitely Devon's manufacturing operations in Torrington after purchasing the dairy in an £800,000 deal.
Robert Wiseman now owns the rights to the Definitely Devon liquid milk brand and will make cream and butter under contract from previous owners Torridge Vale, a local dairy farmer co-operative, and The Co-operative Group, which are retaining the right to use the brand for those products.
However, Robert Wiseman is planning to construct a new dairy on a site in Taunton, shedding doubt on the future of the Torrington facility.
A spokesman said: "We'll review this matter when the time comes."