Luigi Giribaldi

Luigi Giribaldi
Born1925
Cavallermaggiore, Italy
Died2012
Turin, Italy
Children3

Luigi Giribaldi (1925-2012) was an Italian industrialist and activist investor. He was the founder of the first national logistics and transportation firm in Italy, TRACO, and played a key role in several high-profile corporate takeovers and investments.

Early life and career

Giribaldi was born on 9th August 1925 in Cavallermaggiore (Cuneo), Italy. In the 1960's, he founded the express transport firm TRACO (Trasporto Colli - Tra.Co. S.p.A.), based in Turin. Under his leadership, the firm evolved into Italy's first national logistics company.[1] Giribaldi was a pioneer in express transport, and the company became a frontrunner in Europe as well. In the late 1980s, he sold TRACO to the multinational group TNT, establishing him as a major player in the Italian business scene.[2][3] He remained Chairman of TNT Italy until 1991.[4]

Career as an activist investor

Following the sale of TRACO, Giribaldi gained prominence as an activist investor, employing strategies that played a pivotal role in revitalising the financial environment in Italy. Notable ventures included significant investments in companies such as Carlo De Benedetti’s CIR and Cofide.[5]

In 1999, Giribaldi invested in the Italian industrial and chemical group SNIA, building a majority stake alongside Cornelio Valetto and challenging the control of Cesare Romiti.[6][7] His move was part of a broader trend where activist investors across Europe, such as François Pinault and Martin Ebner, aimed to disrupt traditional European business practices.[8][9][10][11]

The following year, he purchased a stake in the group HdP, in part owned by Gianni Agnelli.[12] The group held notable assets such as the fashion house Valentino and the daily Italian paper Corriere della Sera.[13]

In 2001, Giribaldi acquired a stake in the Scottish cashmere company Dawson International, continuing to expand his portfolio in fashion and luxury.[14] In the same year, he invested in IT Holding (ITH), a fashion manufacturing company which owned the brand Gianfranco Ferré and Malo and produced clothes for brands such as Versace, Dolce & Gabbana, Etro and Exte’.[15][16][17] [18]

Toro Calcio

In the 1990s, Giribaldi attempted to buy the football team Torino Calcio following the financial collapse of the club under its previous president, Gian Mauro Borsano.[19]

Later life and legacy

Giribaldi moved to Monte-Carlo in 1990, from where he would lead his financial operations. He was a known collector of luxury cars and watches. Luigi Giribaldi died in Turin at the age of 87. He was married and the father of three children.[20]

References

  1. ^ Top employers Italia 2012 (in Italian). FrancoAngeli. 2012. ISBN 978-88-568-4539-6.
  2. ^ "Si è spento Luigi Giribaldi". Toro News (in Italian). 22 August 2024. Retrieved 6 February 2025.
  3. ^ https://www.pressreader.com/italy/corriere-della-sera/20120930/page/23. Retrieved 6 February 2025 – via PressReader. {{cite web}}: Missing or empty |title= (help)
  4. ^ "THREE TNT DIRECTORS RETIRE BECAUSE OF AGE". Australian Financial Review. 2 July 1991. Retrieved 6 February 2025.
  5. ^ Kline, Maureen (23 March 1998). "Luigi Giribaldi Reportedly Sells His Holdings in CIR and Cofide". The Wall Street Journal. Retrieved 6 March 2025.
  6. ^ Hubert-Rodier, Jaquess (29 January 1999). "Le raider Luigi Giribaldi contrôle désormais 29 % de Snia". Les Echos. Retrieved 6 February 2025.
  7. ^ Street Journal, Deborah BallStaff Reporter of The Wall (28 January 1999). "Snia's Story Is a Reflection Of Milan's Changing Culture". Wall Street Journal. ISSN 0099-9660. Retrieved 6 February 2025.
  8. ^ A Raider's Who's Who (6 February 2025). "A Raider's Who's Who". Bloomberg.
  9. ^ "T Boone Pickens: Texas oil tycoon who epitomised the corporate raider". The Independent. Archived from the original on 7 July 2022. Retrieved 6 February 2025.
  10. ^ Rossant, John (1 February 1999). "Europe: Raider's rising". Bloomberg News. Retrieved 6 February 2025.
  11. ^ Croci, Ettore (2011). Shareholder activism. Azionisti, investitori istituzionali e hedge fund.
  12. ^ "Gianni Agnelli's Latest Salvo". Bloomberg. Retrieved 6 March 2025.
  13. ^ Nussenbaum, Evelyn (25 February 2000). "HDP STOCK GAINS ON REPORTS OF FASHION EXIT". Retrieved 6 February 2025.
  14. ^ citywire.com https://citywire.com/new-model-adviser/news/italians-take-another-cut-of-cashmere-company-dawson/a207653. Retrieved 6 February 2025. {{cite web}}: Missing or empty |title= (help)
  15. ^ "ITTIERRE | About". ITTIERRE. Retrieved 6 February 2025.
  16. ^ de Gasquet, Pierre (2 April 2002). "IT Holding finalise l'intégration de Gianfranco Ferré".
  17. ^ Finanza, MF Milano (5 March 2000). "Giribaldi sale al 10% in Ittierre | MilanoFinanza News". MF Milano Finanza (in Italian). Retrieved 6 February 2025.
  18. ^ FinanzaOnline, Redazione. "It holding in volata, la societa' smentisce i rumor". FinanzaOnline (in Italian). Retrieved 6 February 2025.
  19. ^ "basicpress.com". www.basicpress.com. Retrieved 6 February 2025.
  20. ^ "Scusi Giribaldi, ma chi gliel'ha fatto fare? Sarà banale, ma qui, mentre il sole illumina il residence Mirabeau, balcone sul mediterraneo, la domanda sorge spontanea: perché uno ricco come Luigi Giribaldi, un patrimonio smisurato, decide a 72 anni di muovere battaglia a Carlo De Benedetti, a suon di centinaia di miliardi, e da allora acquista a piene mani azioni Cir, Cofide e Olivetti? Lui, è ovvio, una domanda così se l'aspettava". www.cinquantamila.it (in Italian). Retrieved 6 February 2025.
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