Mr Peter Lynch, former finance director of Adare Printing, has taken an 8.3 per cent stake in Oakhill, the former print and packaging division of James Crean.

He has not indicated his intentions to the company but is likely to become actively involved.

Mr Lynch lost the takeover battle with a consortium headed by Mr Nelson Loane to acquire Adare, which has now been privatised. However, he stood to gain €4 million (£3.2 million) from the bid.

The purchase price for the stake in Oakhill has not been disclosed but is understood to have been at around 23 cents per share. This would put the consideration at €1.1 million for the 4.7 million shares purchased. Crean owns 20 per cent of Oakhill.

Mr Pierce Casey, the venture capitalist, has a 5.45 per cent stake in the company.