The country's largest sandwich maker, Freshways, has been bought from Kerry Foods in a management buyout.
Diarmuid Shanahan and Garrett Fitzgerald bought the firm, which operates from a purpose built production facility at Finglas, in Dublin.
In a statement, the company said that it will continue to employ over 170 people after the deal.
The plant makes 300,000 handmade sandwiches each week for customers on the island of Ireland, as well as making sandwich filler for delis and the convenience store market.
Freshways's joint owner and sales and marketing director, Diarmuid Shanahan, said that the management team is investing significantly in the business.
He said that since the MBO it has recruited a number of new staff and have plans to hire 50 more staff in finance, sales and market, IT and operational roles over the next 12 months.