The Aponte family expands its Mediterranean Shipping Company to compete with Maersk
The Mediterranean Shipping Company of the Aponte family has re-energized its efforts to become the largest container line in the world by trying to overtake the family conglomerate AP Moller-Maersk.
MSC, founded and chaired by Captain Gianluigi Aponte (pictured left), 81, made waves when the family business poached longtime Maersk executive Soren Toft (pictured below right) in late 2020, suddenly and with immediate effect. Toft had been Chief Operating Officer of Maersk since 2013 and later a member of its board of directors.
Toft has been appointed CEO of MSC, the first non-family person to hold this position. He reports directly to Aponte, who took on the newly created role of group executive chairman when his son and successor, Diego Aponte, was promoted to group chairman in 2014.
Diego Aponte said that Toft’s 25 years of leadership experience at Maersk and his understanding of the future of the container shipping supply chain made him “the perfect partner to help lead MSC to future at the helm of our family business, building on the strategy that has made MSC a growing success over the past five decades.
The usually low-key MSC, worth $ 25 billion, has since expanded its capabilities at a breakneck pace. The Italian-Swiss company owns and charters 608 box vessels capable of carrying 4,045,190 TEUs of freight compared to the Danish group’s 721 vessels, carrying 4,182,800 TEUs, according to maritime data hub Alphaliner. However, MSC closed the gap in the number of fleets to just 81 ships by ordering an additional 48 ships, amounting to an additional 875,676 TEUs of cargo, compared to the 16 ships ordered by Maersk with an additional capacity of 48,406.
The octogenarian Aponte retains control of the global business he started in 1970 with one ship. Based in Geneva, Switzerland, MSC calls at 500 ports on 215 trade routes, carrying 21.5 million TEUs per year, via a fleet equipped with green technologies.
Aponte and her son work alongside her daughter Alexa Aponte-Vago, group financial director, and her husband Pierfrancesco Vago, executive chairman of MSC Cruises.
EssilorLuxottica acquires $ 8.7 billion stake in GrandVision after court case
EssilorLuxottica, the French-Italian eyewear and eye care giant, has completed its $ 8.7 billion acquisition of Dutch eyewear retailer GrandVision after a two-year dispute.
EssilorLuxottica announced last week that it had acquired a 76.72% stake in GrandVision, the company that owns the Vision Express trademark, from HAL Optical Investments, a wholly-owned subsidiary of Dutch investment firm HAL Holding.
The cash purchase price was equal to $ 33.71 per share, roughly the same as when the deal was first closed in July 2019. The terms and conditions have also remained the same. EssilorLuxottica has announced the launch of a mandatory public offer for all outstanding GrandVision shares.
Still, $ 17 billion sunglasses maker Ray-Ban said it was “reviewing its options” on the deal a week earlier. EssilorLuxottica said an arbitral tribunal had ruled that GrandVision had committed “material breaches of its obligations to EssilorLuxottica” and that EssilorLuxottica could modify, or cancel entirely, the transaction. GrandVision said it was “disappointed” by the court’s decision.
Francesco Milleri (pictured right), 62, a non-family managing director of EssilorLuxottica, said the company decided to complete the integration without further delay because its “strategic rationale” remained unchanged.
âAfter two years of effort and hard work, we are now ready to turn a page and open a new chapter in EssilorLuxottica’s history, with GrandVision,â said Milleri.
âAs the industry returns to growth after the pandemic, we believe this is the perfect time to expand our retail network, so that we can engage more effectively with consumers and thereby increase visibility and quality of the whole industry. “
Founder and father of six Leonardo Del Vecchio (pictured above left), 86, is the president of EssilorLuxottica. The Italian billionaire mogul was its executive chairman when his Italian eyewear conglomerate Luxottica merged with French optical maker Essilor in 2018. Del Vecchio voluntarily stepped down from his executive responsibilities at the end of 2020 to uphold the “principle of equality powers “of the company between the shareholders after a change in governance. .
The music publishing dynasty Albert embarks on impact investing
The Albert family, the fifth-generation Australian clan who made their fortune in music publishing, launched their first $ 12 million seed impact venture capital fund.
Family-owned entertainment company Alberts is known for training countless local artists including AC / DC, the Easybeats, John Paul Young, and Baz Luhrmann. The family officially launched Alberts Impact Ventures in late June with the goal of closing 20 pre-seed, seed and Series A investments over the next three years.
The family fund was aimed at supporting the next generation of musicians, as well as addressing social issues, such as mental health and wellness, equality and environmental sustainability. Alberts has already invested in seven startups, including renewable energy retailer Amber Electric, online concert booking platform Muso and Sendle, Australia’s first 100% carbon neutral courier.
Sydney-based Alberts is led by David Albert (pictured above left) as chief executive, with siblings Ingrid, Emily and Kirsty Albert (pictured below right) as executive directors. David Albert joined the family business in 2004 after holding marketing positions for Coca-Cola, Eastman Kodak, Kellogg’s and Australian telecommunications companies Optus and Telstra.
The fifth-generation cohort in charge descends from immigrant Swiss watchmaker Jacques Albert, who opened his watch repair shop in Newtown, Sydney in 1885. The founder responded to the public’s growing appetite for music as a entertainment by opening Albert’s Music Stores in central Sydney, selling instruments and sheet music. Albert’s successive generations have helped shape Australian pop culture by branching out into music publishing, public and commercial broadcasting, and film and television production.
However, David Albert was concerned about the disruption of digitization in the music industry by 2016. He oversaw the sale of the family’s original music business, 131-year-old J Albert and Son, to the new Australian branch of German media giant BMG. . The family retained ownership of the lucrative publishing rights to Australian rock groups AC / DC and the Easybeats, as well as the Harry Vander, George Young and Stevie Wright catalogs.