Esselunga Pulls Plug On Plans To Sell Business
The family that controls Italy's fourth largest supermarket group, Esselunga, have reportedly put a stop to plans to sell the business, Planet Retail has reported.
The Caprotti clan have said that they no longer plan to sell the retailer, following the death of its founder, Bernardo Caprotti, last week.
At least four private equity firms, including BC Partners, Blackstone and CVC Capital Partners, were eyeing a takeover of the business for around €6 billion.
Founded in 1957, Esselunga posted sales of more than €7 billion last year. It employs around 22,000 people.
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