With her election as Esselunga’s new president on June 30, Bernardo’s daughter Marina Caprotti solidified her control over the privately owned, $9.3 billion (8.1 billion euros, sales) company that dominates the food retail sector in northern Italy. It was a deal reached in late March, however, that finally placed 100% of the company in the hands of Marina and her mother, Giuliana Caprotti. After several years of negotiations and arbitration, Marina and Giuliana reached a deal on March 21 to buy out Giuseppe and Violetta’s stake for about $2.1 billion (1.85 billion euros), valuing the whole company at $7 billion (6.2 billion euros). Esselunga is one of Italy’s largest food retailers, with 159 stores, closing 2019 with net profits of $285 million (276 million euros). “It’s important for Esselunga to continue to offer quality and convenience to Italian families, without forgetting issues like sustainability and the fight against food waste,” Marina Caprotti told the Italian daily Corriere della Sera in June.

Source: Forbes July 14, 2020 10:52 UTC