A British man who died in a boat accident off the coast of Italy has been named as the millionaire owner of a Covid mask firm.

Dean Kronsbein, 61, died after the yacht he was on crashed into rocks off the coast of Sardinia on Sunday.

Mr Kronsbein, a German-British dual national who lived near Ross-on-Wye, owned the face mask supplier Ultrafilter Medical, which also has its factory in the south Herefordshire town.

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A spokesperson for the family said: “It is with great sadness that we can confirm that Dean Kronsbein has been killed in a boating accident.

“A much-loved and respected family man, friend and business colleague, it is a tremendous shock and he will be deeply missed by all who had the privilege to know him.

“We politely request that the family are allowed time and space to come to terms with their loss.”

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Councillor Ed O’Driscoll, the mayor of Ross-on-Wye, posted on Facebook: “I was deeply shocked to learn of the sudden death of local businessman Dean Kronsbein in a yachting accident off the coast of Sardinia.

“I would like to offer my deepest condolences to his family as they come to terms with this terrible news.”

According to local media, Mr Kronsbein was fatally injured when the 70ft Amore yacht crashed at Il Nibani, near Porto Cervo.

He was pulled from the water but was pronounced dead at the scene.

Mr Kronsbein was reportedly on board with his wife, Sabine, 59, and his daughter, Sophia, 27, who were seriously injured.

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Coastguard commander at the Port of Olbia Francesco Colarullo told MailOnline on Monday: “The damaged boat was towed back to Porto Cervo and has now been seized by the local prosecutor while the investigation into what happened exactly continues.

“Its possible speed may have been an issue and we know that other vessels were in the area at the time and the accident may have happened while evasive action was taking place.”

An spokesperson for the Foreign Office said: “We are providing support following a maritime accident in Sardinia, including to the family of a dual national who has died.

“We are in contact with the local authorities.”