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FB Roundup: Busch, Eataly, and Axel Springer

October 2, 2015

Family-owned Busch buys stake in Pfeiffer Vacuum; Former Luxottica CEO Andrea Guerra takes on Eataly; and Axel Springer to buy Business Insider for $343 million

Family-owned Busch buys stake in Pfeiffer Vacuum

German vacuum pump maker Busch, owned by the eponymous family, has bought a 15% stake in competitor Pfeiffer Vacuum for around €145 million ($161 million).

"As a long-term investor we see a financial investment in Pfeiffer Vacuum as an attractive opportunity to profit more from the potential of a market that we know well," second-gen Sami Busch, one of the company’s five managing partners, said in a statement.

The missing link for family offices

September 30, 2015

Families can face a deluge of competing challenges when managing their wealth which is why successful families rely on an ‘expert generalist’ to safeguard their interests. Linda C. Mack and Michael Zeuner outline why the role of a family office “quarterback” is vital to families, what to look for in an ideal candidate, and where to look.

FB Roundup: Subway, Madison Square Garden, Ab InBev and Sab Miller

September 18, 2015

Subway founder Fred DeLuca dies at 67; Family brewers eye $275bn mega merger; and Madison Square Garden to split entertainment and media businesses

Subway founder Fred DeLuca dies at 67

Fred DeLuca, the billionaire founder and president of American sandwich franchise Subway, died this week after a two-year battle with leukaemia. He was 67.

The second-generation Italian immigrant started small with his first sandwich shop in Bridgeport, Connecticut in 1965. He called it Pete’s Super Submarines.

What do you think of CampdenFB?

September 11, 2015

We want to know what you, our readership, think of CampdenFB, both online and in print. That’s why we are conducting our regular reader survey.

We want to know what you, our readership, think of CampdenFB, both online and in print. That’s why we are conducting our regular reader survey.

Family Business Roundup: Heineken, Ikea, and Cargill

September 11, 2015

Heineken buys 50% of Californian craft brewer; Ikea sales rise 11% to record €32 billion; and Cargill CEO David MacLennan to become chairman

Heineken buys 50% of Californian craft brewer

Dutch family brewer Heineken, owned by the eponymous family, has announced plans to purchase a 50% stake in Californian craft brewer Lagunitas.

According to a company statement, the deal will provide Heineken with a foothold in the booming craft beer market and Lagunitas with a boost to its global customer base. Financial terms of the deal were not disclosed.

FB Roundup: Lego, Novartis, VW and Suzuki

September 4, 2015

Lego posts double-digit growth across all territories; Novartis launches copycat cancer drug at 15% discount; and VW and Suzuki settle four-year legal dispute

VW and Suzuki settle four-year legal dispute

An international court has ordered German carmaker Volkswagen to sell its 19.9% stake in Japan’s Suzuki Motor, bringing to a close a four-year dispute between the companies.

The two automakers had accused each other of breaching their 2009 partnership agreement, which was intended to provide Volkswagen with greater access to India and Suzuki with new technology.

Family Business Roundup: Belk, Schaeffler, and New World Development

August 27, 2015

Belk department stores sold for $3 billion; Schaeffler posts double-digit revenue increase; and Chinese billionaire Adrian Cheng to build 17 shopping centres

Belk department stores sold for $3 billion

American department store chain Belk, owned by the eponymous family for more than 125 years, has been acquired by private equity firm Sycamore Partners in a deal valued at $3 billion.

According to a company statement, Sycamore will pay $68 in cash for every share, in what will be the biggest ever deal for the New York-based firm.

FB Roundup: Camargo Corrêa, Lindt, and Shoprite

August 21, 2015

Camargo Corrêa agrees to $30 million fine for price fixing; Lindt posts record half-year earnings; and Shoprite Holdings to open 35 new stores in Africa

Camargo Corrêa agrees to $30 million fine for price fixing

Brazilian engineering company Camargo Corrêa, controlled by the billionaire Carmargo sisters, has agreed to pay fines of $30 million after admitting to its role in a price fixing scandal.

Family Business Roundup: Crown Resorts, SK Group, and Cargill

August 14, 2015

James Packer steps down as chairman of Crown Resorts; Chey Tae Won receives pardon from president; and Cargill to expand agriculture business in Mexico

James Packer steps down as chairman of Crown Resorts

Australian billionaire James Packer has stepped down as chairman of Crown Resorts amid an earnings slump at the casino group.

According to a statement, the 47-year-old will instead take on the role of senior executive director and plans to focus on the group’s global expansion.

Family Business Roundup: Illy Caffé, Cemex and Bharti Airtel

August 7, 2015

Illy Caffé sells €70 million bond to increase market share; Cemex completes $15 billion refinancing of bank debt; and Bharti Airtel beats Reliance Industries to 4G launch

Illy Caffé sells €70 million bond to increase market share

Italian coffee company Illy Caffé has sold a €70 million ($76 million) bond in order to increase market share in the premium hospitality sector.

The move will help Illy keep up with its larger Italian rival Lavazza, and comes amid a period of consolidation in the coffee industry, which is estimated to be worth $80 billion.