The sale of the majority of Irish Pride Bakeries’ assets to Pat The Baker has been agreed, according to joint receivers at KPMG.
The company employees around 340 people nationwide, with more than 250 jobs secured by the sale.
The sale does not include the Irish Pride plant at Ballinrobe, Co Mayo - which will be winding down operations.
Receivers did not receive any bids for the business and assets of the Ballinrobe facility and they will commence a redundancy consultation process with the affected employees straight away.
Receivers have assured customers the changes will not impact the ongoing production and supply of products.
Joint receivers were appointed to Irish Pride in June.
In addition to operating the manufacturing facility at Ballinrobe, the company also operates a second facility at Taghmon in Co Wexford.
The company was sold by investment group One51 to WHW Bakeries, a business controlled by Garret and William Lloyd, for an undisclosed sum last year.
Irish Pride is one of the country's biggest manufacturers of branded and own-label bread products, which it sells nationwide.
The company makes 15,500 deliveries of wrapped bread and soft rolls to retailers across Ireland every week.
