Poultry producer Moy Park, one of Northern Ireland's biggest employers, has been sold for £1bn.
It has been bought by American company Pilgrim's Pride Corporation, headquartered in Colorado.
In a statement announcing the acquisition, it said "Moy Park's employee base will remain in place".
Janet McCollum, chief executive of Moy Park, said the "announcement is a positive development for Moy Park and all our colleagues employed across the business".
“Pilgrim’s is one of the leading chicken producers in the world with a proven track record and we see great opportunities for Moy Park as part of this successful business. Joining Pilgrim’s gives us the opportunity to accelerate our growth plans, share best practices and leverage Pilgrim’s expertise and operational excellence.
“Moy Park will provide Pilgrim’s with a platform for growth in Europe as well as access to innovation and increased exposure to prepared foods. Both Moy Park and Pilgrim’s have a long heritage in agriculture and poultry production going back over 70 years and we share the same values.”
Pilgrim's Pride said the purchase would make it become "a global player" and that it had "approximately $50m (£38m) in annualized synergies" in mind.
