Italian Ferrero Rocher Tycoon Dies In Cape Town

Italian businessman and confectionary king, Pietro Ferrero has died whilst on a business trip in South Africa. The 47 year old chocolate tycoon is suspected to have had a heart attack whilst cycling between Camps Bay and Llandudno. He was the joint chief executive of the Ferrero Company, which is famous for such brands as Ferrero Rocher, Kinder and Nutella is a family run business and has never been publicly listed.

Pietro and his younger brother Giovanni, had run the company since 1997, when they took over operation from their father Michele Ferrero. Mr Ferrero senior – who is still company chairman and is listed as the richest man in Italy by Forbes Magazine – took control of the chocolate empire in 1957 and was credited with turning the company into the billion euro entity that it is today. At the close of the last financial year the company, which employs about 22,000 people, declared pre-tax profits of a cool 893 million euros! Pietro, his father Michele and a number of their management had been in South Africa with a view to opening a new factory in Johannesburg.

Mr Ferrero jr had apparently been on a training cycle, when he collapsed and fell from his bike on the beautiful Cape coast. In true Capetonian spirit a passer-by attempted to resuscitate the businessman, but he was dead by the time paramedics arrived.

Pietro Ferrero is survived by a wife and 3 children.

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