The company went up for sale when parent company the Lowther Food Group called in the receivers on January 23.
Founded in 1886, Cornwall-based Furniss has an annual turnover of £5.5m and supplies the snack food sector and branded goods for the tourist gift market, as well as industrial ingredients.
New owners Ian Connell and Nigel Barratt plan to work with the existing management team - Connell will act as executive chairman and Barratt as a member of the board of directors - to help stabilise the business and then expand by utilising spare capacity.
They have received financial backing from Finance Cornwall and support from the South-West Regional Development Agency. All 150 jobs based in Redruth are safeguarded.
Connell said Furniss Foods had operated as a going concern and had always been a profitable company.