Businessman Tony O'Reilly dies aged 88

Businessman Tony O'Reilly has passed away after a short illness.

In the Déise, he was best known for being a leading shareholder in Waterford Wedgwood, pouring hundreds of millions of euro into the company before the economic crash of 2008 effectively killed off any hope for survival. 

Before entering the business world, Tony made a name for himself playing as an Irish rugby international and becoming a record try-scorer for the Lions team in the late 1950s. 

His first splash of success came from creating Ireland's first global food brand, Kerrygold, along with its iconic gold wrapper.

Tony went on to become President of HJ Heinz in Pittsburg, flying to and from Ireland every weekend. 

In 1973, he bought into Independent News & Media (INM) and held tenure over the company until his resignation in 2009.

In 1987, Tony merged Waterford Crystal with Wedgwood to create Waterford Wedgwood PLC, a holding company to revive both brands. 

With his brother-in-law Peter Goulandris, Tony invested over €440 million in the company. 

Waterford Wedgwood went into receivership in January 2009, the fallout of which left many in the Déise out of a job and out of a pension. 

Over 200 former employees staged a sit-in at the Kilbarry premises over the closure.

When the end came for Waterford Wedgwood, Tony was devastated. 

He said of the collapse: “My only consolation is that everything that could have been done was done.”

Waterford Wedgwood was later acquired by KPS Capital Partners, and in 2015 was bought by Finnish consumer goods company Fiskars.

Tony was declared bankrupt in The Bahamas in 2015, and was facing a personal debt of €22.6 million from AIB. He exited bankruptcy in 2023.

He was married twice, first to Susan M. Cameron in 1962, then to Chryss Goulandris in 1991. He was the father to six children.