The owner of Esselunga, one of Italy’s largest grocery chains, has passed away at the age of 90.
Barclays European Food Retail Equity Research reported that in the months leading up to his death, Bernardo Caprotti had commenced negotiations over the sale of the group for a reported €6 billion.
However, Giuseppe Caprotti, Bernardo’s son is believed to oppose the proposed sale.
Esselunga posted sales of €7.3 billion last year, up 4.3% on the previous year. It is the fourth largest chain in Italy, and boasts a higher revenue per square metre than Carrefour, Auchan or Coop, according to Barclays.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
