Brazil retail billionaire Abilio Diniz dies at 87

BRF SA

19/02/2024 01:09

BRASILIA, Feb 18 (Reuters) - Brazilian billionaire
Abilio Diniz, who built an empire in the supermarket retail
sector, died on Sunday in Sao Paulo, according to his press
office.
    The 87-year-old had been hospitalized at the Albert Einstein
Hospital and suffered respiratory failure due to pneumonitis,
his press office said in a statement. 
    Diniz played a pivotal role in the history of Brazilian
retail, serving most recently as vice-chairman of Carrefour
Brasil  CRFB3.SA  and as a board member of the French group
Carrefour  CARR.PA . 
    In the late 1950s, he co-founded Pao de Acucar  PCAR3.SA ,
which grew into the country's largest supermarket chain. After a
series of mergers and acquisitions, its control passed into the
hands of France's Casino  CASP.PA  in 2012.
    Diniz remained with the company he founded until 2013, when
he took over as chairman of Brazilian food processor BRF
 BRFS3.SA , where he served for five years. 
    In 2014, Diniz acquired a stake in Carrefour Brasil through
his private investment company Peninsula.
    Last year, Forbes estimated his net worth at $2.4 billion.

 (Reporting by Marcela Ayres
Editing by Chris Reese)
 ((marcela.ayres@thomsonreuters.com; +55 11 5047-2444;))