At the reading of my father’s will I said that we would do anything to safeguard the company. I think that this agreement, which returns peace in the family, will reinforce Esselunga in time. It’s the ideal continuation of the statement I made outside the notary Carlo Marchetti’s office. The company, with all its suppliers, first and foremost. This is what Mr. Giuseppe Caprotti said in an exclusive statement for Food about the recent agreement between the family members on the company’s reorganisation in view of a possible stock exchange listing. Thanks to Giuliana and Marina Caprotti. With this sentence written on Facebook, Mr. Giuseppe Caprotti underlined even more the importance of the agreement between all the heirs to the Esselunga supermarket chain’s “dynasty”, fighting for the succession since the death of founder Bernardo Caprotti last September. His elder son Giuseppe has also published on Facebook an Ansa report announcing the “peace” between the two branches of the family and the project for the retail group reorganization. The latter should lead to the stock exchange listing, when market conditions are right.
Villata’s real estate to come back in Esselunga
At the moment there is a non-disclosure agreement on the road that should lead to the listing. Some press leaks appeared, claiming that Giuseppe and Violetta Caprotti should sell their Villata Partecipazioni’s shares (45% of the total) – the group’s real estate company – to Esselunga S.p.A. in cash. The company should receive 1.5 billion Euros, while Giuliana Albera (Bernardo Caprotti’s late wife) and her daughter Marina Sylvia (Bernardo’s younger daughter) should sell 22.5% of Villata shares in their turn. Esselunga group should get 67.5% in all of Villata, which owns most of Esselunga supermarket’s buildings and was spun off some years ago. The next step would be the merge between the operating company and the parent holding company Supermarket Italiani. At that point, the group would be ready for the listing which should enable Giuseppe and Violetta Caprotti to sell 30% of their shares, giving up right away on being in the company’s board.
The value of the company
How much will Esselunga be worth once it has been listed? According to Affari Italiani site, it’s between 1.66 and 6.25 billion Euros. It depends on the method used to assess the retail giant’s value and the one of its competitors (Wal-Mart, Carrefour, Ovs, etc.). Anyway, a great deal will depend on the market and macroeconomic conditions at the moment of the stock exchange listing. Some days ago, Chinese investment group Yida Investment offered 7.5 billion Euros for Esselunga, but for now the chain remains in Italian hands.
