Tesco has bought up the remaining slice of the Euphorium Bakery business, despite reports that it planned to scrap the venture.

The supermarket went into partnership with the bakery in October 2012, with its first concession at a store in Kensington.

In 2013 it began a wider rollout and there are currently 59 Euphorium concessions within Tesco stores, as well as six standalone sites, along with a bakery to service the Tesco stores in Weybridge in Surrey.

Several analysts have suggested that the company may be on CEO Dave Lewis’ hit list as he seeks to concentrate on Tesco’s core business.

But today a Tesco spokesman said: “We can confirm we have acquired full ownership of Euphorium Bakery. We’d like to thank Danny Bear (founder) for all his hard work and dedication in making Euphorium the business it is today.

Euphorium is a great brand and where we have extended it into stores its proved really popular with customers. Our priorities remain the colleagues working for Euphorium and providing a great service to customers.”

A year ago Tesco announced it was to close more than 100 in-store bakeries, after revealing it is to open a new centralised kitchen in Surrey producing fresh bread and artisan bakery products for the Euphorium project.

News of Tesco acquiring full ownership of Euphorium Bakery was first reported by The Grocer sister publication British Baker earlier today.