Customs officers and gardaí in Co Cork have seized cocaine which they believe has a potential street value of €5 million.
What was described as "a substantial quantity" of high-quality cocaine was concealed in a consignment of goods that arrived at Cork port from Rotterdam today.
A Revenue statement said the goods were then removed to a premises in Bartlemy, Fermoy where the seizure took place.
A 56-year-German national and a 45-year-old Irish national were arrested at the industrial premises.
During follow up searches two Irish nationals aged 42 and 65 were arrested in Dublin and a 46-year-old Hungarian national was arrested in Cork, Revenue said.
All five men are currently being detained under Section 2 of the Criminal Justice (Drug Trafficking) Act 1996, at Cobh, Crumlin, Terenure and Midleton Garda stations.
Revenue said the goods had been removed to a secure location where an in depth search of the consignment will be undertaken.
Today's seizure was a result of a joint operation between Customs and the Garda National Drugs Unit, as well as cooperation with Europol, Interpol and Dutch Law Enforcement Agencies who carried out a strategic intelligence led investigation into an international drug smuggling gang.
Investigations are continuing, Revenue said.