DCC Vital, the pharma and medical devices division of international sales, marketing and support services group DCC, has agreed to sell its UK generic pharma activities and related manufacturing facility in Ireland.
The Kent Pharma and Athlone Laboratories plant will be sold to Duke Street, a leading UK private equity firm.
The transaction is expected to complete in the third quarter of 2019 and no details of the price agreed have been disclosed.
DCC bought Kent in 2012 for €71.2 million.
In a statement, DCC said Duke has a strong track record of developing businesses, including in the healthcare sector.
"The disposal will sharpen the strategic focus of DCC Vital, allowing it to concentrate on those areas where it has market leading positions and sustainable competitive advantage, in particular in the sales, marketing and distribution of medical products in Britain and Ireland," it said.
DCC Vital will also continue to develop its pharma activities in Ireland, the firm said.