IRISH companies reported 104 acquisitions last year, down 6 per cent on 1994, according to figures published by Chapman Flood Corporate Finance. The value of reported deals was down by 45 per cent to £1.7 billion, mainly due to two large deals completed in 1994. A total of 15 management buy-outs were completed, compared to 10 the previous year.

The drop in the value of acquisitions is largely due to the impact of the Jefferson Smurfit purchase of Cellulose du Pin and Kerry Group's acquisition of DCA Foods in 1994. The combined value of both deals was close to £1 billion.