Regulators have approved Larry Goodman's ABP Food Group's bid to take a controlling stake in organic beef producer Good Herdsmen.
ABP agreed to take a majority shareholding in the Tipperary-based business last August, subject to getting the green light from the Competition and Consumer Protection Commission.
The commission said on Friday that it had approved the deal, allowing Mr Goodman’s operation to take control of the well known organic meat processor.
Good Herdsman is based in Cahir, Co Tipperary, and is a leading producer of organic beef for home and export markets. The business has two plants, and slaughters about 6,000 cattle from certified organic farms every year.
The company has been working in partnership with ABP Food Group since 2010, a move that helped it expand overseas.
Good Herdsmen's chief executive John Purcell will continue to run the business and keep a significant shareholding.
The Competition and Consumer Protection Commission said it was allowing the transaction as it had formed the view that it would not substantially lessen competition for goods or services in the State.
The parties notified the regulator of the deal in early September, shortly after it was agreed.
