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Pinault family office head to lead Christie’s auction house

December 3, 2014

The French businesswoman who has headed the Pinault family’s investments for the last 25 years has been appointed chief executive of auction house Christie’s, which is wholly owned by the family.

The French businesswoman who has headed the Pinault family’s investments for the last 25 years has been appointed chief executive of auction house Christie’s, which is wholly owned by the family.

Patricia Barbizet will replace Steven Murphy as chief executive, following his surprise departure announced this week by Christie’s and effective from the year’s end.

PPR shows its “Kering” nature with new name

March 22, 2013

French fashion group PPR has changed its name to Kering, the latest move in its “profound transformation” into a group focused exclusively on the luxury, sport and lifestyle sectors.

Second-gen chief executive Francois-Henri Pinault said in a statement: "The change of identity is logical and necessary culmination of the transformation. Beyond a simple change of activity, the new name reflects the new nature of the group."

Family business roundup: Acquisitions for Berkshire Hathaway and Henkel; New York Times and PPR divest

February 26, 2013

Family businesses across the world have been in the process of making some mouthwatering acquisitions over the past two weeks, with Henkel and Berkshire Hathaway making bold expansions. Meanwhile, PPR made some savvy divestments in Scandinavia, the New York Times Company put its Boston Globe newspaper up for sale, and UK company Cosalt went into administration.

Berkshire Hathaway/World Publishing

Family business roundup: Good year for PPR and Heineken, Saputo plateaus and Peugeot Citroen continues to struggle

February 15, 2013

It has been a week of mixed fortunes for family businesses, with Heineken and PPR riding high, Saputo treading water in its third quarter and Peugeot continuing to flounder.

PPR
In the fashion world PPR, the French luxury goods firm that owns Gucci and Yves Saint Laurent among others, posted excellent annual results on 15 February.

The Pinault family-controlled company reported a net income rise of 6.3% to €1.4 billion, while revenues jumped 20.8% to €9.7 billion.

Family business roundup: Swatch buys Harry Winston, Volkswagen eyes Man and PPR divests

January 14, 2013

European family businesses are putting their best foot forward for 2013, with Swatch making a major acquisition while Volkswagen and PPR are also eyeing deals.

Family business roundup: Acquisitions for Joh A Benckiser and PPR, Gruma buys back company shares

December 19, 2012

From tortilla and coffee producers to luxury goods and retail groups, it’s been a week of acquisitions for family businesses in North America and Europe, with companies including Jon A Benckiser and PPR buying new assets.

Joh A Benckiser

Joh A Benckiser, the holding company of the German Reimann family, is to acquire the US’s second largest coffee operator – Caribou Coffee – for about $340 million (€258 million).

Family business roundup: Samsung, America Movil, PPR and Pernod Ricard post good results, while Paccar sees a fall

October 29, 2012

Family businesses around the world have reported mixed quarterly figures, with Samsung and America Movil seeing rises in sales and profits, while Paccar has witnessed a fall in revenues.

Samsung Electronics, which is the world’s biggest technology company by sales, had a record-breaking third quarter with operating profit reaching an all-time high of 8.12 trillion won (€5.74 billion) – up 91% on the same period last year – while revenues hit 52.18 trillion won, a 26% increase.

Family business roundup: Changes at Douglas, Bertelsmann and PPR

October 16, 2012

The long-running sales saga at German retailer Douglas finally appears to be coming to an end, with Advent International teaming with the Kreke family to buy out shareholders. Meanwhile two other family-controlled businesses are weighing up their shareholdings in subsidiaries.

American buyout firm Advent offered €1.5 billion to buy Douglas Holding after almost a year of talks and months of speculation. The bid was worth about €38 a share.

Family business roundup: Heineken faces bidding war, PPR sells stake in distribution firm

August 8, 2012

Family-controlled drinks company Heineken is facing a possible bidding war as it attempts to buy out Asia Pacific Breweries, the maker of Tiger Beer.

The Dutch company had offered conglomerate Fraser and Neave S$50 (€33.50) for its stake in APB.

But on 7 August, a group linked to one of Thailand’s richest men, Charoen Sirivadhanabhakdi, made a surprise counterbid, driving APB’s share price to S$52.20, well over the price offered by Heineken.

Family Business Roundup: LVMH, L’Oreal, PPR, VW post gains, net income down at America Movil

July 27, 2012

It has been a good week for top European family businesses, as the continent’s biggest carmaker, Volkswagen, and leading French luxury conglomerates LVMH and PPR reported significant revenue growth for the first half of 2012.

LVMH, controlled by Bernard Arnault and his family, announced on 26 July half-yearly revenues of €13 billion, up 26% from €10.29 billion in the first six months of last year.