Celador Productions has today announced its senior management has completed the first stage of a total buyout of the business, led by managing director, Danielle Lux.

Sharing ownership of the company alongside Lux are director of production, Heather Hampson and head of factual, Murray Boland.

The news follows last month's transaction between CCCL and 2waytraffic for the worldwide intellectual property rights and UK programme library of Who Wants To Be A Millionaire? and Celador International.

Lux said: "This is an amazing opportunity. It's not every day that a fistful of programmes, including You Are What You Eat, and one of Britain's best production companies are landed in your lap. But that is what has happened to us."

Outgoing Celador Productions’ chairman, Paul Smith, supports the buy out and will remain a shareholder in the company until his stake is purchased by the management team. Smith will also have an on-going, non-executive role in the company.

In addition to the buyout trio, Celador Productions management includes Ruth Wrigley, recently appointed head of entertainment; and Liz Anstee, head of radio.

"In just a couple of years we've gone from being employees hired to grow the company to becoming its owners. Heather, Murray and myself are very grateful to Paul and passionately committed to keeping Celador Productions a creative company for creative people," Lux added.

The company is current in production with the fourth series of You Are What You Eat for Channel 4. The format has been increased to hour-long episodes and Channel 4 has recently ordered an additional three hour-long bridal specials.