Beef and lamb processor, Kildare Chilling, is set to be sold to Dawn Meats, the Irish Farmers Journal understands.
The meat company had an estimated turnover of €140m in 2021.
If confirmed, the move would further weaken competition in the meat processing sector for farmers.
Kildare Chilling consistently quoted top prices for lamb and accounted for around 21% (550,000 head) of the national sheep kill.
It also handled approximately 4% (65,000 head) of the national cattle kill.
It is expected that the deal will be subject to approval by the Competition and Consumer Protection Commission.