Investment group One51 has completed the sale of Irish Pride Bakeries to WHW Bakeries, a business controlled by Garret and William Lloyd, for an undisclosed sum.
One51 said the deal marks the successful completion of the two-year action plan outlined to shareholders at its AGM in 2011.
This was designed to rationalise the company's portfolio, pay down debt and bring new focus to future development.
"This sale will allow One51 to focus on the growth of its core plastics and environmental-services businesses," commented the company's chief executive Alan Walsh.
Irish Pride Bakeries is one of the country's biggest manufacturers of branded and own-label bread products which it sells nationwide. With bakeries in Wexford and Mayo, the company makes 15,500 deliveries of wrapped bread and soft rolls to retailers across Ireland every week.