Co Monaghan-based duck producer Silver Hill Foods has been acquired by the Northern Ireland agri-food business Fane Valley for an undisclosed sum.
Fane Valley has been Silver Hill Foods' feed nutrition partner for over 20 years.
The Armagh-based company has said it intends to invest in Silver Hill's production facilities in Emyvale.
Founded in 1962 by the Steele family, Silver Hill Farm is a fully integrated family owned business.
All aspects of its duck production are owned and controlled by Silver Hill Farm, from breeding, egg production, hatching and selection, to processing, cooking and packing.
The company currently exports 70% of its produce and exports to 30 countries worldwide including the UK, Holland, Germany, France, Singapore and Hong Kong.
It employs 240 people in Emyvale.
Duck producer Silver Hill Foods bought by Fane Valley pic.twitter.com/Wud0uTDoK7— RTÉ Business (@RTEbusiness) March 15, 2019
"This is a good news story for our employees first and foremost, for Emyvale and for all our growers, suppliers and customers, especially with Brexit causing uncertainty in this region," the company's owner Stuart Steele said.
"Keeping the business in Irish control and based in Emyvale was an intrinsic part of the negotiations and subsequent sale," he said.
He said that Silver Hill Foods has attracted the interest of many potential overseas buyers over the years, particularly from the UK, Europe, and even Asia.
The companies said today's deal builds on the existing relationship between Fane Valley and Silver Hill and reinforces Fane Valley’s strategic objective of investing in innovative food companies with a strong growth potential.