The Kepak Group has agreed to buy a majority shareholding in pork and bacon company McCarren & Company in Co Cavan.

The transaction is still subject to Competition Authority approval.

The company said the McCarren family will remain as minority shareholders in the business and will continue their five generation association with it. The business employs 180 people.

Kepak said the deal will complement its existing chilled meats business strategy which is focused on developing its sales within the domestic and EU retail and foodservice markets. This is the group’s first investment in the pig meat sector.