Saturday 16 December 2017

Bert Allen and his family had two significant pay-days in the past year from the sale of Slaney Foods to Larry Goodman's ABP Foods and a group of wind farms that Gaelectric owned.

The Allens' stake in Slaney was 50pc, but the sale price was undisclosed. Its turnover looks to have been perhaps 250m. The accounts are unlimited but the average industry profit seems to be around 5pc, so the Allens may have banked 50m.

The firm had about 6pc of the Irish market, mainly in beef and lamb and big contracts with the likes of Lidl and McDonalds which made it a prize for ABP.

Gaelectric recently sold its assets for about 350m, meaning the family could have banked 63m for their share of that, and while debt may have changed that number considerably, the value of the remainder of the company is likely to have increased.

The family also has other interests. They made an expertly timed sale of the Bewleys Hotel Group for 580m in 2008, just before the economic crash.

There are also properties in Düsseldorf and Marl in Germany, while Allen (78) collects Eileen Gray furniture and has restored her Brownswood family home near Enniscorthy in Co Wexford. One of the designer's chairs was worth 22m. Meanwhile, Bert's son Bertram is a star showjumper who has competed for Ireland in the Equestrian World Cup and took more than 20 first places during a cracking year in 2015.

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