Irish meat processor Dawn Meats is in talks to buy a stake in the beef and pork arm of French co-op Terrena.

The companies said they were in "exclusive negotiations" over a possible deal that could see Dawn Meats take a "minority stake" in Elivia, which claims it is the number two beef processor in France.

"Terrena and Dawn Meats' beef businesses are of similar size and are complementary in the context of their respective markets," a statement said. "The two groups share the same strategic vision oriented around three objectives: quality, performance improvement and the development of new business opportunities, particularly on the European market."