County Down's Finnebrogue Artisan is planning to invest up to £63m in expansion, with the creation of 340 jobs.
The plant-based food products manufacturing business will see the first phase include a 200,000 sq ft development, as part of a £32.9m investment.
The company, which was formed in 1996, has already invested £50m over the last five years in three factories in Co Down.
In other news, Andrew Nethercott is to join the group from Moy Park as the new managing director, and will start work on 3 August.
Finnebrogue Artisan food brands include Naked, The Good Little Company, Rankin Selection, and Veggie.