Larry Goodman
Laurence Goodman | |
|---|---|
| Born | September 15, 1937 County Louth, Ireland |
| Occupation | Entrepreneur |
| Known for | Founder of ABP Food Group, Executive Chairman of ABP |
Laurence Goodman (born 15 September 1937) is an Irish entrepreneur predominantly involved in the beef processing sector. Representing the sixth generation of a family engaged in livestock and meat exportation, he established the business that evolved into ABP Food Group in 1954. Currently, he holds the position of Executive Chairman at ABP, which has expanded to become one of Europe's leading agri-food corporations, operating 51 processing facilities across Ireland, the United Kingdom, Spain, France, Denmark, the Netherlands, Austria, and Poland. The company employs a workforce exceeding 11,000 individuals. Additionally, the Goodman family office maintains investments in real estate, healthcare services, and both arable and beef farming ventures.
Goodman's enterprises were subject to examination during the 1991 Beef Tribunal, and his burger manufacturing operation, Silvercrest, became involved in the 2013 European horse meat scandal. An inquiry conducted by the Irish Government concluded that the company had never intentionally procured meat containing horse DNA.
Personal life
Originating from County Louth, Goodman attended St Mary's College, Dundalk but departed prior to completing his Intermediate Certificate, opting instead to join his father’s meat business with an emphasis on by-products and sheep farming. He comes from a long-established lineage with six generations dedicated to the meat industry. He resides in Castlebellingham, County Louth with his wife Kitty. His brothers Peter and Michael previously held positions within related enterprises but are no longer in communication.
Business life
During the late 1960s, Goodman took ownership of Anglo-Irish Meats based in Dundalk, marking a significant entry into meat processing. He broadened export markets extensively, particularly targeting Middle Eastern countries such as Libya, Iran, Iraq, and Egypt, frequently acting as his own sales representative. Goodman was part of the advisory panel for HSBC’s establishment in Ireland in 1979 alongside Dermot Nolan, Michael Carvill, and Peter Hutson. In April 1980, Anglo Irish Meat Group acquired a meat processing facility in Bagenalstown, County Carlow from Meade-Lonsdale for approximately £2.2 million.
By June 1980, Goodman revealed plans for a £10 million investment to construct a new meat plant in Ardee, County Louth, projected to provide employment for 360 workers at full capacity. An additional £10 million was allocated for expanding operations at Cahir, Nenagh, and Bagenalstown. In October 1980, he purchased Fermanagh Meats located in Enniskillen for around £1.5 million; this plant processed roughly 1,000 cattle weekly and employed 60 staff members. At this point, Goodman's meat enterprise was generating annual revenues near £100 million.
In July 1981, the Industrial Development Authority (IDA) pledged £2 million towards a £9 million expansion of Goodman’s facilities. His company Irish Agricultural Feed Co established a feed production site at Castlebellingham and created a facility capable of "over-wintering" up to 15,000 cattle to ensure consistent supply during off-peak periods—a £2 million project following fourteen years of research efforts. The Anglo Irish Group employed approximately 700 personnel with an annual turnover reaching £120 million.
In January 1982, Anglo Irish Beef Group secured a contract valued at £25.5 million to supply Iraq with 9,000 tonnes of boneless consumer cuts along with frozen bone-in meat as part of a broader order totaling 54,000 tonnes.
By March 1983, AIBG acquired four animal by-products plants in Northern Ireland from Robert Wilson for about £1 million. The group was slaughtering over 250,000 cattle every year while fattening an additional 10,000 at Goodman's feeding operations in Louth. In April 1983, contracts worth $50 million were signed to deliver fresh frozen beef to Iran and Morocco. Goodman criticized the absence of a UK Variable Premium subsidy program that provided UK exporters with an effective $300 per tonne competitive edge over their Irish counterparts. In September 1983, he secured a $33 million beef supply contract with Iran, acknowledging Agriculture Minister Austin Deasy for facilitating the arrangement.
In December 1984, AIBP acquired Dalgety PLC’s fresh meat division—including plants located in York, Blisworth, Wellingborough, Reading—and depots situated in Jersey and Berkshire—raising annual turnover to £300 million. This acquisition was followed by purchasing Clover Meats’ Waterford facility after its collapse for approximately £2 million in February 1985; this included National Proteins, a by-products plant specializing in processing meat and bone meal derived from edible offal.
Allegations by Desmond and Mac Giolla
On 9 March 1989, TDs Barry Desmond and Tomás Mac Giolla brought forward accusations concerning Goodman International during a Dáil session. It was disclosed that the Minister for Agriculture had met with Goodman on 19 October 1988, during which Goodman showed interest in acquiring Irish Sugar. Nevertheless, a month later, in response to a parliamentary question, O'Kennedy denied any "discussions or negotiations" involving Goodman. Desmond highlighted that media outlets were facing legal writs and urged the establishment of a tribunal of inquiry into the Goodman Group. In reply, Goodman International rejected the claims as "false and malicious," condemning the invocation of Dáil privilege against an Irish enterprise.
Iraq Conflict and Emergency Legislation
On 2 August 1990, Saddam Hussein initiated the invasion of Kuwait. Early estimates placed losses to the Goodman group and its financial institutions at £70 million. At that juncture, Goodman's companies were responsible for approximately 40% of Ireland's total beef slaughter, generating nearly £1 billion in revenue, predominantly from exports. On 24 August 1990, share values on the Irish Stock Exchange declined by £400 million, with Goodman-linked firms such as Food Industries (68% owned by Goodman) dropping from 170p to 110p per share.
By 24 August, Taoiseach Charles Haughey summoned the Dáil for an urgent session to pass a segment of the Companies Bill on 28 August. Haughey refuted assertions that this legislation was tailored specifically to support Goodman. The enacted law empowered courts to appoint an examiner with authority to freeze company assets for up to twelve months, functioning similarly to US Chapter 11 bankruptcy protection.
Subsequently, it became known that Goodman International was owed as much as £180 million by Iraq while simultaneously having liabilities exceeding £400 million to international banks, resulting in insolvency approaching £100 million. Given that Goodman International operated as an unlimited company with Goodman holding a 98% stake, he faced potential personal liability for any outstanding creditor deficits.
World in Action Inquiry
On 13 May 1991, Granada Television broadcast an edition of World in Action featuring Susan O'Keeffe, which scrutinized Goodman International’s principal operations and its financing via national and European Community programs including export insurance schemes, credit facilities, EC export subsidies, and cattle premium payments. The episode questioned Goodman's dominant market share in both Irish and British beef processing sectors and suggested undue political influence. It included insights from Patrick McGuinness, a former accountant at Goodman who had departed from the company. Opposition parties swiftly demanded a comprehensive judicial investigation.
Goodman expressed willingness to cooperate fully with any inquiry and denied any habitual wrongdoing concerning meat stamping or weighing practices, asserting that any such incidents occurred without his knowledge or approval. He conceded that arrangements involving approximately £3 million in non-taxable employee wages had existed but were subsequently terminated.
The Tribunal of Inquiry into the Beef Processing Industry—commonly known as the Beef Tribunal—was inaugurated on 31 May 1991 under Justice Liam Hamilton. Its purpose was to probe allegations of illegal conduct, fraud, and malpractice within the beef processing sector raised both in parliament and through the television program, along with related issues deemed pertinent. Hearings commenced on 21 June 1991 and concluded with a report issued in July 1994, making it Ireland’s lengthiest inquiry at that time. The tribunal was established by the Fianna Fáil/Progressive Democrat coalition government following PD leader Des O'Malley’s ultimatum to withdraw support unless such an investigation proceeded; subsequently, then-Taoiseach Charles Haughey consented.