LARRY Goodman's ABP has offloaded its 6 per cent stake in the €400m-valued, FTSE-listed Hilton Food Group.
The sale, which took place some months ago, is thought to have netted ABP close to €14m. Hilton Foods is a major specialist meat packaging business, supplying major international retailers such as Tesco, Ahold, Albert Heijn and ICA.
In a stunning dawn raid, ABP racked up a 5.83 per cent stake of the meat-packing company two weeks after its May 2007 flotation. Goodman's empire was a major supplier of meat to be packaged by the company.
Goodman made a decent profit from his investment and is likely to have almost doubled his money on the deals. However, ABP has missed out on the recent spike in Hilton Food Group's share price, which hit an all-time high last Friday, touching 440p per share.
The bulk of Goodman's estimated €700m fortune comes from his role as one of the biggest meat processors in Europe. The Hilton foods stake was one of the few known investments in a public company by the media-shy beef magnate. Goodman's Parma investment vehicle is one of the largest shareholders in the waste to bread group One51.
The Louth businessman is better known for his property investments. Last Christmas, Goodman splashed out €40m to buy the Bank of Ireland headquarters building on Baggot Street.
Goodman's property empire also includes commercial buildings in Dublin including the Setanta Centre on Nassau Street.
He is also as shareholding in the Blackrock Clinic private hospital, having paid around €25m for a 28 per cent stake.