J. & L. F. Goodbody was established in 1865 as a jute manufacturing business based at Clashawaun in Clara and also with offices in Dublin. Its directors were Jonathan Goodbody (1865-88), Lewis F. Goodbody (1865-87), Robert Goodbody (c1870-88), Joshua C. Goodbody (c1873-88), Fredrick R. Goodbody (1880-88) and J. B. Clibborn Goodbody (1880-88).

The business was formed into a limited company in 1888 and traded under the name J. & L. F. Goodbody Ltd. As well as jute, it also manufactured cotton and synthetics. Its main factories at Clara and Waterford were later joined by factories at Dublin, Limerick and Slane. In 1937, it became a public company when outside shareholders and directors were introduced. It was quoted on the Dublin Stock Exchange and wound up in 1984. The family crest was adopted as the registered trade mark.