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Lloyd Maunder has sold its 13 butcher shops in Devon and Cornwall to a management buy-out operating under the name of West Country Family Butchers.
Lloyd Maunder is to create 100 production jobs at its meat processing factory in Mid Devon this summer.
Lloyd Maunder is to shed 32 of the 650 jobs at its poultry processing plant in Mid Devon, and has also unveiled a £5.5m expansion plan for the site.
Lloyd Maunder, the Devon-based poultry firm with 800 staff, has been acquired by 2 Sisters Food Group.
Lloyd Maunder is to acquire the Dewhurst chain of 109 butcher shops, which will involve the transfer of 500 staff.