The Melbourne abattoir, at the heart of last year's coronavirus outbreak, has entered a new partnership with Melbourne based Global Meat Exports.
In May last year, Cedar Meats, Brooklyn, was at the centre of Victoria's largest coronavirus cluster.
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Cedar processes and sells mutton, lamb, goat and veal to the European Union, North and South America, south-east Asia, China, the Middle East and Africa.
Cedar said GME was its new "corporate parent entity".
Cedar would remain family operated, with both Pierre and Tony Kairouz continuing to head up operations and maintain substantial ownership and control in the new corporate structure.
"The business will continue to trade as Cedar Meats Australia," general manager Tony Kairouz said.
"For some time, the family shareholders have been working on succession planning, and that work has come to fruition.
"The transition enables two important objectives for Cedar Meats - firstly it allows non-participating and retiring family shareholders to depart."
Cedar Meats was established in 1984 when the six Kairouz brothers started a butcher shop in Northcote.
It is now a fully integrated, export meat processing facility, employing up to 300 people with a turnover greater than $200 million per annum.
Mr Kairouz said GME would allow the company to realise its envisaged growth potential.
"One of the first developments under this new structure will be to incorporate our second facility in Mildura to the broader GME operation.
"This plant is ready to commence and has only been awaiting the finalisation of the Cedar/GME deal to occur. "
Cedar Meats will close for a week to complete the transition.
"With community COVID transmissions so high in Victoria at the moment, it is an opportune time to close our operations for a week, commencing October 11 for the five day working week," Mr Kairouz said.
"We are also taking the opportunity to ensure those staff who haven't had their second COVID vaccination to have it next week.
"We are so close to being the first in our industry to be fully vaccinated."
All staff had received their first vaccination, with the majority now close to being double-dosed.