William Hill has sold its 33 Northern Ireland bookmaker shops to BoyleSports.
The deal will see the betting shops rebranded under Ireland's largest independent bookmaker and bring the number of BoyleSports outlets in NI to 39.
Two William Hill shops in the Isle of Man are also included in the acquisition.
Conor Gray, chief executive of BoyleSports, said: "BoyleSports is delighted to realise its long-held ambition to develop a meaningful retail presence across Northern Ireland and the Isle of Man.
"Indeed, John Boyle opened the first ever BoyleSports in Markethill, Co Armagh , Northern Ireland in 1982, so increasing our presence in Northern Ireland many years later is significant on many fronts.
"This acquisition complements our existing retail network in Northern Ireland and our retail network in the Republic of Ireland while also representing a significant step in our long-stated ambition to develop our retail footprint across the UK."
This deal is BoyleSports' largest acquisition to date and will bring its total number of shops across the island of Ireland to 298 and its total retail footprint including the UK to 317 shops.
The buy-out takes immediate effect but Mr Gray said his company will only take full operational control in 30 days to allow them to engage with their "220 new employees".
All stores acquired will be rebranded as BoyleSports outlets and in line with the BoyleSports business model the new shops will be upgraded to bring them up to the industry-leading standard which BoyleSports customers have come to expect and enjoy.
"The Government's 2018 decision to impose a 100% increase in betting duty has, as predicted by all Irish bookmakers, led to dramatic consolidation of the industry, with previously thriving betting companies now permanently closing their doors," added Mr Gray.
"Although BoyleSports expects some participation in that forced consolidation to some degree, the increase in betting duty has meant that the focus of future expansion and investment will be outside the Republic of Ireland."
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