Northern Foods has sold its Dalepak grills and burgers division in order to concentrate on other brands such as Fox's biscuits and Goodfella's pizza.
Irish Food Processors is paying £6.4m for Dalepak, which is based in Northallerton, North Yorkshire.
Dalepak products include Chinese Style Ribsteaks, Vegetable Fajita Fingers and Ross Beef Tender Grillsteaks.
Northern will use some of the proceeds from the sale of "non-core" Dalepak to fund its pension schemes.
Irish Food Processors is owned by Irish tycoon Larry Goodman and has a number of meat processing sites in the UK.
It supplies supermarkets as well as catering and export markets.
Dalepak employs 143 people and made a small loss on sales of £23m last year.