Thursday 16 August 2018

Low-profile businessman Frank Dunne (74) is believed to be Dunnes Stores' largest shareholder, with about a third of the business, which is thought to have a turnover of about €3.5bn across its 156 stores here, in the UK, and Spain.

The keen horse breeder lives on a stud farm in Co Kildare, and last year bought the neighbouring stud, Ballymacoll - complete with 300 acres - for €8.15m. It was the birthplace of the famous thoroughbred Arkle.

Fellow Rich Lister and horsebreeder Luke Comer owns a neighbouring stud. In Dunne's time, the supermarket and clothing retailer has moved more upmarket in food, drink, clothing and homeware. It and rivals Tesco and SuperValu all have about 22pc of the €9bn grocery market here and each month they jostle for first place in the monthly retail sales rankings. Late last year, a €284m dividend from accumulated profits in the UK operation was paid out in anticipation that sterling will fall against the euro as the effects of Brexit play out.

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