Gertrude Eder is an independent business consultant with a focus on Leadership, General Management and Organisation, Strategy […]
Hedde DRAPER | Managing Director, Consumer & Retail Corporate Finance Advisory CEE | UniCredit Bank Austria AG Speaker at […]
…, family firms will remain an important feature of global capitalism for the foreseeable future
FAMILIES HAVE ALWAYS been at the heart of business. Family companies are among the world’s oldest. The Hoshi Ryokan, an inn in Japan, has been in the same family since 718. Kongo Gumi, a Japanese family construction firm, was founded even earlier, in 578, but went bust in 2006. The Antinori family hasbeen producing wine in Tuscany since 1385 and the Berettas have been making guns since 1526.
Family companies played a starring role in the development of capitalism: think of the Barings or the Rothschilds in banking or the Fords and Benzes in car making. Family companies are ideally suited to the early stages of capitalism. They provided two of the most important ingredients of growth, trust and loyalty, in a world where banking and legal institutions were often rudimentary and poor communications made far-flung activities hard to control.
Mergers & Acquisitions in Food and Beverage
Global Consumer M&A had a strong first half to the year, with transactions valued at US$ 202.5bn topping every H1 deal value since 2008 and representing a 42.8% uptick in deal value compared to H1 2014. The increase stemmed from two domestic mega-deals, together accounting for 47.1% of total deal value: HJ Heinz’s US$ 54.5bn acquisition of Kraft within the US food sector and Cheung Kong Holdings US$40.8bn acquisition of CKH & Hutchison Whampoa within Hong Kong’s retail sector. As a result, the Consumer sub-sectors food (US$ 80.2bn) and retail (US$ 105bn) saw an increase in deal value by 129.9% and 106.9% respectively compared to H1 2014 (food worth US$ 34.9bn; retail worth US$ 50.8bn). Food deal value reached its highest H1 deal value since 2007, whilst retail reached its highest H1 deal value on Mergermarket record.
Who drives transformation in society? How do they do it? How social entrepreneurs target systems that exist […]