The town’s only shop was closed in May after Foodstuffs withdrew its Four Square franchise.
The community-owned store operated in different forms for more than 100 years.
The land and building is owned by a trust.
At a meeting this week about 60 contributors to that trust decided to sell the store.
Trust chairman Eoin Garden said it was seriously considering about four business cases, but one was approved unanimously.
It will retain the name Faigan’s and operate as a restaurant, cafe and grocery store.
"It was attractive because of two key points. Firstly, they wanted to work with local organisations and businesses in the community to make it a better place to live. For example, working with the campground, school and tavern.
"Secondly they wanted to retain the family name and the history of the store."
The new owners were not locals, but had ties to the area and visited on holidays, he said.
He did not want to reveal more information about them until the deal was finalised.
People at the meeting were "absolutely over the moon", he said.
"With a cafe and restaurant, it will bring a lot of people to our little community who are travelling past."
Thirty-year resident Lyn Owens said the outcome was "better than we could have hoped for".
"Of all the business cases it was the one that stood out, because they were going to do so much."
The prospect of attracting tourists from the Clutha Gold cycle trail was "very exciting", she said.
"I don’t know that they’ll have everything the grocery store used to have, but I’m sure they’ll visit the community to ask us what we need."
Mr Garden said the new owners planned to have Faigan’s open for the summer.
