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Family Business Roundup: Camargo Corrêa, Toyota, and Tod's

Camargo sisters sell maker of Havaianas sandals; Toyota global leader in car sales; and Tod’s acquires Roger Vivier for $441 million

Camargo sisters sell maker of Havaianas sandals

Brazilian engineering company Camargo Corrêa, controlled by the billionaire Carmargo sisters, has revealed it is selling the maker of Havaianas flip-flops to J&F Investimentos SA for 2.7 billion reais ($718 million).

Sao Paulo-based J&F Investimentos SA controls the world’s largest meat exporter, JBS SA, and will take control of Alpargatas SA, the publicly traded company creates Havaianas, according to Bloomberg.  

The industrial conglomerate is controlled by three Camargo heiresses, Regina, Renata and Rosana, who together own a fortune worth more than $5 billion, according to the Bloomberg Billionaires Index.

The family hope that the purchase of Alpargatas will help to diversify the holdings of J&F Investimentos SA, which also has controlling stakes in paper maker Eldorado Brasil Celulose SA and dairy-products company Vigor Alimentos.

Toyota global leader in car sales

Toyota Motor Corp, owned by the Toyoda family, outsold Volkswagen for the fourth month in a row this October to remain the world's top-selling automaker.

The news hits as sales at German carmaker Volkswagen remain stunted following the diesel emissions scandal that rocked the auto industry last month, falling by 5.3% year-on-year in October.

Toyota said on Friday its group vehicle sales totalled 8.35 million in the January-October period, which equates to more than the 8.2 million vehicles delivered by Volkswagen during the same period.

The Toyoda family founded Toyota in 1937.

Tod’s acquires Roger Vivier for $441 million

Italian luxury goods maker Tod’s, owned by billionaire tycoon Diego Della Valle, has acquired high-end French shoes and accessories brand Roger Vivier for $441 million.

Tod’s already produces and sells Roger Vivier shoes in return for royalty payments under a licensing agreement that is due for renewal next year, according to Reuters.

The brand contributes 15% of the Italian group’s sales.

Tod’s traces its roots back to the late 1920s when Filippo Della Valle first started a shoemaking business. Today, the Della Valle family controls 56.7% of the company and many family members are involved in its management.

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