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    ACS   ES0167050915

ACS, ACTIVIDADES DE CONSTRUCCIÓN Y SERVICIOS, S.A.

(ACS)
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Benetton founder, who took family business beyond sweaters, dies at 77

10/22/2018 | 04:40pm EST
FILE PHOTO: The logo of Italian fashion group Benetton is seen at a store in Zurich

MILAN (Reuters) - Gilberto Benetton, a co-founder of Italian clothing retailer United Colors of Benetton who masterminded the family empire's diversification into construction, transport and catering, has died at the age of 77.

The former head of family holding company Edizione which controls Italy's biggest infrastructure group Atlantia, died after a short illness, the family said on Monday.

With his brothers Luciano and Carlo and sister Giuliana, Gilberto founded United Colors of Benetton in a small town in northeast Italy in 1965. Carlo died earlier this year.

The retailer rose to fame in the 1980s and 1990s with its brightly coloured sweaters but faced headwinds in recent times as demand for its products fell.

Besides Atlantia, the Benettons, one of Italy's richest families, also control travel caterer Autogrill and Rome's airports.

As the only member of the family on the Atlantia board, Gilberto faced a major crisis when a bridge in Genoa operated by a unit of Atlantia collapsed in August, killing 43 people.

Earlier this year Atlantia agreed a deal with Spanish builder ACS to take control of motorway group Abertis.

In a statement, the chairman of Atlantia, Fabio Cerchiai, and CEO Giovanni Castellucci said they shared the family's pain at Gilberto's death.

(Reporting by Riccardo Bastianello, Paola Arosio and Stefano Bernabei, writing by Stephen Jewkes; Editing by Adrian Croft and Robin Pomeroy)


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
ABERTIS INFRAESTRUCTURAS 0.00%End-of-day quote.-1.02%
ACS, ACTIVIDADES DE CONSTRUCCIÓN Y SERVICIOS, S.A. 0.33% 24.07 Delayed Quote.1.78%
ATLANTIA SPA -0.92% 17.24 Delayed Quote.-0.32%
AUTOGRILL S.P.A. 1.14% 6.726 Delayed Quote.6.47%
JUST GROUP PLC 1.77% 86.2 Delayed Quote.1.32%
WILL GROUP, INC. 1.06% 1240 Delayed Quote.-11.21%
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Financials
Sales 2021 27 773 M 31 698 M 31 698 M
Net income 2021 766 M 874 M 874 M
Net cash 2021 1 874 M 2 139 M 2 139 M
P/E ratio 2021 9,45x
Yield 2021 6,95%
Capitalization 6 776 M 7 730 M 7 734 M
EV / Sales 2021 0,18x
EV / Sales 2022 0,17x
Nbr of Employees -
Free-Float -
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Number of Analysts 16
Last Close Price 24,07 €
Average target price 31,70 €
Spread / Average Target 31,7%
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Managers and Directors
Florentino Pérez Rodríguez Executive Chairman & Co-Chief Executive Officer
Marcelino Fernández Verdes Co-Chief Executive Officer & Executive Director
Cristina A. E. González de Durana Director-Finance & Corporate Development
Joan-David Grimà i Terré Independent Non-Executive Director
Miquel Roca I. Junyent Independent Director