Green Isle Foods is to invest €30 million in its Irish operations, creating 115 jobs over five years.
The frozen food company, which represents household brands like Green Isle, Goodfella's Pizza and Donegal Catch, said the investment would position the company for future growth in Ireland and abroad.
An additional 50 jobs are to be created at the company's pizza production facility in Longford and another 65 jobs in its pastry production plant in Portumna, Co Galway.
Green Isle Foods is part of the UK-based 2 Sisters Food Group, which has a total turnover of £3 billion with about 24,000 employees worldwide.
Its Irish expansion plan is supported by the Department of Jobs, Enterprise and Innovation via Enterprise Ireland.
Speaking at Green Isle Food's Longford factory today, Minister for Jobs Richard Bruton said: "Food is a sector where Irish companies have built strengths and grown export markets over many years."
“This is also a sector which provides employment in towns and villages right across the country, and that is why we targeted this area for particular support as part of our action plan for jobs.”
Green Isle's managing director Eddie Power said: "It is critical that we have well invested facilities to ensure that we compete and win on both national and international stages."
“This investment programme increases our capacity and extends our product offering and secures access to a wider range of international markets.”
Minister of State for Research and Innovation Sean Sherlock described the announcement as a “welcome boost” for Longford and Portumna.
“With 61,000 extra people at work in the past year, and jobs growth in every region of the country, it is clear that our plan is working”.