Restaurant Mel's Tearoom in Sackville, N.B., will get to stay in its current location after negotiations to buy the property that houses the business were successful.
Ken Mikalauskas, who owns the restaurant with his wife, Lara Ross, announced on Facebook that the offer they made on the property was accepted.
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"Very good news! Our offer has finally been accepted, financing is approved, we are officially buying the building," the owners wrote on the Mel's Tearoom Facebook page.
The future of the business was unclear earlier this week after it came to light the owner of the building was looking to sell to an unidentified restaurant business that wanted to move into the building.
Mikalauskas and Ross bought the tearoom five years ago. The property was owned by Roger Goodwin, whose family had run the business for four generations before selling the business to Mikalauskas and Ross in 2012.
The business started as a fruit and ice cream parlour in 1919 and has been in its current location since 1945.
The owners thanked supporters on Facebook.
"The positive support in this community has been overwhelming and incredibly generous," the owners wrote.
"It amazes us to see just how many lives this restaurant has touched."
Milkalauskas said there are no immediate plans for changes. He said he's hoping to preserve the building and the tearoom.