Germany's IMMAC Group has bought the Beechfield Care Group in Dublin for a sum believed to be in the region of €33m.
This marks IMMAC's first entry into the Irish nursing home sector.
The Beechfield Care Group incorporates Beechfield Manor Nursing Home, Glengara Park Nursing Home and Mount Hybla Nursing Home as well as the Beechfield Private Homecare service.
Today's announcement by IMMAC, and sister company Antaris Healthcare, marks the first step of a planned expansion programme by the company into the Irish market.
IMMAC said it will roll out further investments in both new and existing nursing home operations here over the coming years.
The CEO of Beechfield Care, Sarah McMickan, said the deal with IMMAC was a "hugely positive step" for the group.
"We are now ideally positioned for further development and expansion. IMMAC and Antaris will bring their extensive experience from Europe both to the Beechfield Group and to the nursing home sector here as a whole," she added.