The Sicilian chain of 180 optical retail stores has enlarged its board of directors from three to five members to accommodate two representatives of a private equity fund, BS Investimenti SGR. However, company officials point out that the investment company has not acquired any shares in Gruppo Randazzo, which remains entirely the property of the Randazzo family.
The two new directors, Antonio Perricone and Massimo Capuano, are described as friends of the family. Perricone is president of BS Investimenti and Capuano is a former chief executive of the Italian Bourse. On Randazzo's board, they join the three sons of Angelo Randazzo, founder of the group, who died recently. One is Agostino Randazzo, who remains president and chief executive. The two others are his sisters Paola and Marina, who act as vice president and executive director, respectively.
Gruppo Randazzo is projecting a 5 percent increase in its turnover this year from the level of €120 million attained in 2009, but we could not obtain yet its estimated growth on a same-store basis. The chain has added three new stores this year. It plans to open 10 new stores each year from 2011 on. By next year, all the stores will be named Optissimo Gruppo Randazzo.