Glass manufacturer Encirc has been acquired by Spanish company, Vidrala, for more than £316m.
Encirc, formerly Quinn Glass, has sites in Elton, Chesire and Fermanagh, Northern Ireland, and produces jars and bottles for the food and drink industry.
The buy-out is set to provide Vidrala with a manufacturing presence in the UK for the first time.
Spanish-owned Vidrala employs 1,700 employees and has yearly sales of €470m.
Adrian Curry, managing director of Encirc, said: “Vidrala has a sizeable presence in Europe and has committed to supporting Encirc’s continued development and investment.
“This will ensure that the business continues to grow and maintains its market-leading position.”
Gorka Schmitt, chief executive of Vidrala, said: “This integration will enhance the resulting group’s position in the European glass market.
“Encirc has demonstrated a solid market share in recent years thanks to the engagement of its employees, its modern facilities, competitiveness and strong customer relationships.
“This acquisition represents an important milestone for Vidrala. The integration will ensure that both Vidrala and Encirc are better placed for the future.”