Dawn Meats has received approval for the proposed acquisition of a 49% stake in French beef and veal processor Elivia from the EU Competition Commission.
Upon completion of the deal, Dawn Meats will have an option to increase its ownership in Elivia to 70% by 2019.
The company is expected to pay around €40m to purchase initial stake in Elivia.
With this investment, Dawn Meats is expected to generate more than €2bn in revenues over a period of four years.
Dawn Meats CEO Niall Browne said: "In a consolidating industry we believe that this deal brings considerable scale and knowledge sharing benefits to both parties. Our aim is to leverage our leadership position in traceability and sustainability so that we are at the vanguard of meat marketing internationally.
"Our scale, premium positioning and routes to market will benefit our customers and thousands of farmer suppliers in Ireland, the UK and now, via Elivia, in France."
Elivia, which operates as a subsidiary of Terrena, is engaged in meat processing.
Dawn Meats produces and supplies meat products. The company offers beef and lamb products, carcase and primal cuts, and pork products, as well as comminutes products, ready to cook products, ready to heat products, and frozen burgers.
