Waterford moguls Peter (75) and John Queally (77) set up Dawn Meats with partner Dan Browne in 1980. It is now one of the largest privately owned agri-business groups in Europe. Shares are split among family members.
It is unlimited which means it does not have to file accounts; majority ownership resides in a British Virgin Islands company IMMOL Ltd. Most recent figures indicate that Dawn Meats had sales of €912m in 2006; it will have grown significantly since then.
The Queally’s Arrow Food Group saw sales drop 8pc to €408m with profits slumping to €2.7m, as costs rose and the horse meat scandal impacted on the industry. Arrow estimated that the ‘mislabelling’ issue cost it about €4.5m.
Other family assets include a sewage treatment firm, the Glenpatrick Spring Water firm, five-a-side football pitches, pet foods and property developments. The Queallys owned a stake in the Lily O’Brien chocolate company but sold out last year.