Following an in-depth review of its manufacturing facilities, Breeo Foods, the consumer foods division of Reox Holdings, is set to close the plant at Mitchelstown over the next few months.
The possibility of closure has been speculated on since the company announced a review of its operations in January.
The plant, which has been primarily involved in the manufacture of pork products - including ham, rashers and puddings - has struggled with the high cost base of the operation and a recent strike notice was only averted with the assistance of the Labour Relations Commission.
The company will now begin discussions with staff and union representatives regarding severance and closure arrangements for the plant.
A Breeo Foods spokesperson said: "This is a very sad day for everyone connected with the company. The closure has been forced on the business by events beyond the company's control. The consumer foods business in Ireland is operating in an increasingly competitive market with a continually rising cost base.
"Marketplace forces, coupled with a requirement for substantial capital injection in the current facility, which was assessed to be economically non-viable, contributed to the decision on the viability of the factory."