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Family business roundup: America Movil, Sirivadhanabhakdi, Pritzker Organization, Maple Leaf Foods, L’Oreal

August 28, 2013

America Movil backs sweetened Telefonica deal, Charoen Sirivadhanabhakdi looks to reduce debt with IPO, Pritzker Organization takes timber services company private, Maple Leaf Foods sells biodiesel and rendering business, and the Bettencourts rule out a L'Oreal sale.

America Movil
Telefonica has received the support of Dutch telecommunications company KPN’s biggest investor, America Movil, to acquire its German mobile unit E-Plus.

Family Business roundup: Growth for News Corp; big profit drops elsewhere

May 10, 2013

Revenue and profit figures for a number of big family businesses show parts of the global economy are still affected by weak demand, but News Corp posted a big profit rise.

Bharti Airtel (2 May)
India-based telecommunications company Bharti Airtel had a difficult 2012 according to their full year results. Revenue increased 12% to Rs 803.1billion (€11.3 billion) but net profit fell 47% to Rs 22.8 billion – its lowest profit figure for seven years.

Family business roundup: Profits may drop, but revenues grow

May 3, 2012

A number of family businesses from around the world have gone against the trend of slowed growth, by posting rises in revenues.

Among these is German carmaker BMW, controlled by the Quandt family. On 3 May, the group said it had its “best first-quarter figures ever” in its 100-plus-year history. Revenues rose by 14% to €18.3 billion, up from around €16 billion for the same period last year.

Canadian family business leaders launch private equity firm

March 27, 2012

Members of two of Canada’s largest family businesses, Maple Leaf Foods and Empire Company Limited, have joined forces to start a private equity firm aimed at investing in mid-sized companies.

SeaFort Capital, launched on 26 March, will focus on businesses with profits between $2 million (€1.49 million) and $10 million, said a statement from the private equity firm.

McCain family ‘has no plans to sell Maple Leaf Foods’

September 7, 2011

Michael McCain is not considering selling Canadian food giant Maple Leaf Foods, despite reports to the contrary.

An article in Toronto-based The Globe and Mail last week claimed McCain was “open to the idea” of selling to a multinational, although it said he was “far from convinced that selling out [was] the right thing to do”.

However, a spokeswoman from the company told CampdenFB that McCain has no plans at all to sell and said he would not even consider such a move.

Top 100 family businesses in North America

June 15, 2011

Family businesses are alive and well in the US, with the top 100 generating approximately $1.6 trillion to America’s $14.6 trillion GDP in 2010. Just under half of the top 100 are owned outright by the family, a higher proportion than in Europe, where Campden’s top 100 family business for the region found that less than a third were fully controlled by the family.

McCain Foods founder dies

May 16, 2011

Wallace McCain, co-founder of Canadian frozen food empire McCain Foods and chairman of Maple Leaf Foods, died on 13 May aged 81.

McCain died after a long battle with cancer and is survived by his wife, four children and nine grandchildren.

McCain founded the eponymous family business along with his brother Harrison in New Brunswick, Canada in 1956. In its first year, the company had sales of around $150,000, and in the 1960s it started offering its frozen potato products to consumers outside Canada.