Word: pasta
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...taking charge of many of these dynasties--and of Europe's economy. Like Ernesto Bertarelli, many of the heirs are better educated and more international in their outlook than their parents were, and they are leading their firms in new directions. The Barillas of Italy have built a pasta plant in Ames, Iowa, and recently bought a German bread company. The Ottos of Germany (Eddie Bauer, Crate & Barrel) are investing heavily in e-commerce. France's Lagardere family is becoming an international media heavyweight...
Soon after selling their century-old pasta firm in the 1970s, the Barillas of PARMA, ITALY, bought it back and have expanded ever since. An Iowa plant is helping Barilla grab 17% of U.S. pasta sales...
...Barilla family--whose pasta and bread company, based in Parma, Italy, dates back to 1877--hit a big snag in the early 1970s, when the third generation of family managers--brothers Pietro and Giovanni--quarreled and sold the business to W.R. Grace of the U.S. In 1979, however, Pietro bought back a majority stake, this time on his own, and started the company on a rapid expansion course. By 1993, when he died, Barilla produced 35% of the pasta sold in Italy. Now his three sons--Guido, Luca and Paolo--and their sister Emanuela are pushing aggressively into international markets...
Barilla built a plant in Ames, Iowa, in 1999 and has grabbed about 17% of the $1 billion U.S. pasta market. The company remains private, but whereas their father was reluctant to bring in outside capital, Guido and his brothers are more open to external finance. Last year, in its biggest transaction to date, Barilla acquired Kamps, a big German bread chain, for $1 billion--bringing in a bank to finance the deal. Randel Carlock, a professor at Insead, says the family "could have just sat in Parma and made pasta. But the younger generation saw the strategic opportunity...
...HUDS, please send us more pasta and muffins—and ship some along to the other restriction-free house, Winthrop, too. And please, please, renovate us next...