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BRASILIA (Reuters) – Abilio Diniz, the Brazilian billionaire who built an empire in supermarket retail, died in Sao Paulo on Sunday, according to his press office.
The 87-year-old was admitted to Albert Einstein Hospital and suffered respiratory failure due to pneumonia, his press office said in a statement.
Diniz played an important role in the history of Brazilian retail, most recently serving as vice president of Carrefour Brasil and board member of the French conglomerate Carrefour.
In the late 1950s, he co-founded Pão de Açúcar, which became the country’s largest supermarket chain. After a series of mergers and acquisitions, in 2012 its control passed into the hands of Casino of France.
Diniz remained with the company he founded until 2013, when he took over as president of Brazilian food processor BRF, where he served for five years.
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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 Marcella Ayers; Editing by Chris Reese)
Copyright 2024 Thomson Reuters,
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