Jerónimo Arango

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Jerónimo Arango Arias (* approx. 1927 in Mexico ; † April 4, 2020 ) was a Mexican entrepreneur. He was the founder of the largest supermarket chain in Mexico. For a long time he was considered the richest man in Mexico before he was replaced by Carlos Slim . His net worth was estimated at $ 3.4 billion by Forbes Magazine in 2009 .

Life

Arango's father of the same name emigrated from Asturias to Mexico in the early 20th century . In Mexico he became an entrepreneur and owned, among other things, a textile factory.

Jerónimo Arango founded the first Aurrerá discount store in 1958 after seeing long lines in front of such stores on a trip to New York. In corporate policy, low prices that were affordable for poorer sections of the population had the highest priority. The business developed positively and soon more branches were opened. The Superama supermarkets were added in 1960, followed by the Vips restaurant chain in 1964 . In 1970, the Arango family entered the clothing business with Suburbia . In 1977 the Arango family group, Grupo CIFRA, went public on the Mexican stock exchange.

In 1991, Arango entered into a 50:50 partnership with Sam Walton's Wal-Mart chain that brought Wal-Mart to Mexico. In 1997, Wal-Mart secured a majority stake in Grupo CIFRA by purchasing more than $ 2 billion in shares from the Arango family. Although it left the operative business, Arango benefits from its expansion through its shares in the now Wal-Mart de México ( Wal-Mex ) group. He has retired in Acapulco or is devoting himself to his investments from there. He is considered to be very public shy, so that very little is known about his person.

Arango's brother Plácido went to Madrid in 1965 and established a Spanish branch there. Her brother Manuel is one of the most successful building contractors in Mexico.

Footnotes

  1. ↑ [1]
  2. ↑ https://www.milenio.com/negocios/jeronimo-arango-fundador-bodega-aurrera-murio-95-anos
  3. ↑ https://www.eluniversal.com.mx/cartera/fallece-el-empresario-jeronimo-arango-uno-de-los-creadores-de-aurrera
  4. ↑ Jerónimo Arango & Family on the Forbes Magazine homepage, accessed October 9, 2009
personal data
SURNAME Arango, Jerónimo
ALTERNATIVE NAMES Arango Arias, Jerónimo (full name)
BRIEF DESCRIPTION Mexican entrepreneur
DATE OF BIRTH 1927
PLACE OF BIRTH Mexico
DATE OF DEATH April 4, 2020