Up to 100 jobs are to be created at a plant site in Borrisoleigh, Co Tipperary.
Oscar Wilde Water has purchased the site, involving an investment of €3m, and will create the positions over the next 24 months.
The company says production of its premium glass bottled water will commence with immediate effect.
The site was formerly Tipperary Water, which was the property of C&C Gleeson Ltd, which closed in 2016 with the loss of more than 100 jobs.
Tipperary TD Michael Lowry says: "Borrisoleigh has for generations been synonmous with the drinks industry.
"It has in recent years suffered a number of setbacks with the loss of employment and local economic activity.
"I have worked closely with all of the partners involved to ensure that this long tradition is reestablished in Borrisoleigh.
"This is a welcome boost to the local economy and creates employment opportunity of up to 100 people in two years."
Over the past two years, the company has supplied its glass bottled water to hotels and restaurants throughout Ireland.
It says it has seen "significant growth" in interest in its brand, both nationally and internationally.
They will shortly launch a new range of tonic water and flavored beverage products to compliment its move into the new plant.
CEO John Hegarty says: "The area has a rich bottling heritage dating back well over 60 years plus a local workforce with a collective 250+ years bottling experience.
"The move into this 50,000 sq ft facility will create up to 100 new jobs in Borrisoleigh and will allow Oscar Wilde Water significantly expand both its product range and output volume."
The company has already secured a number of bottling contracts from a key Irish bottled water brand, along with commitment from C&C Group to support Oscar Wilde brands in its wholesale operations into the future.