The acquisition is designed to help O’Brien Fine Foods grow its presence in the Irish white meat market.
Faughan Foods, owned by Paul and Fintan Hogan and now run by Lisa Rowntree and Diarmuid Connell, employs more than 80 people and supplies processed turkey, chicken and beef in Ireland and the UK. It forms part of Hogan’s Farm that processes over 100,000 turkeys a year.
Hogan’s Farm will continue to supply fresh turkey to Faughan Foods as part of the deal.
The takeover of Faughan Foods is subject to approval from the Competition and Consumer Protection Commissioner in Ireland. The deadline for submissions to the Commissioner regarding the takeover is 26 January 2017.
O’Brien Fine Foods employs 400 people, with factories in Kildare and Offaly, and supplies ready-to-eat pork products.
John O’Brien, managing director of O’Brien Fine Foods, said: “This acquisition is an important step in the process, allowing us to build a strong presence in the white meat market in 2017.
“Together with Lisa and Diarmuid and the 80-strong team at Faughan Foods, we look forward to continuing to focus on innovation and growing our market-leading position in the cooked meats sector.
“Paul and Fintan Hogan have built a strong and successful business, with an experienced team, in Faughan Foods and we look forward to continuing to work with Hogan’s Farm as we embark on the next phase.”