Businessman was admitted to the Albert Einstein hospital, in the capital of São Paulo
Founder of Po de Acar, Abilio Diniz died on Sunday night (18), aged 87, at Albert Einstein hospital, in So Paulo. The businessman was responsible for the creation and development of Grupo Po de Acar, of which he was president of the Board of Directors until September 2013.
Born in the capital of São Paulo, Diniz and his father opened the Po de Acar supermarket in April 1959, the first unit that would give rise to one of the main retail chains in Latin America, the Po de Acar Group.
At the beginning of the 1970s, he opened the first hypermarket in Brazil, Jumbo, and was also the first to create supermarkets in shopping malls and to open stores 24 hours a day.
In 1995, after overcoming one of Po de Acar’s worst crises, he decided to take the company public and, consequently, began to acquire smaller supermarkets.
In August 1999, the French retail group Casino became a minority partner in the Group, with 25% of total shares. Years later, in 2014, the businessman took a seat on the Board of Directors of Carrefour in Brazil. In May 2016, Diniz was appointed member of the Board of Directors of the Carrefour Group, based in France.
Abilio Diniz leaves behind five children, wife, grandchildren and great-grandchildren.
