Bus firm Wrights Group has announced it is to acquire JTI's premises in Ballymena, Co Antrim.
The deal to buy the 100-acre site is expected to be completed in early 2017.
Economy Minister Simon Hamilton welcomed the announcement.
He said: "This investment by the Wrights Group is positive news for Northern Ireland manufacturing and the local Ballymena community, which has experienced challenging times of late.
"Growing and strengthening our indigenous manufacturing businesses is at the core of Invest Northern Ireland's strategy. By securing the Lisnafillan facility The Wrights Group is cementing its commitment to Ballymena and demonstrating its drive for growth in international markets."
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