According to Bloomberg, the Bellon family, worth $6.1 billion, is preparing the next generation to take over their 58-year-old global catering empire. The family's fortune is primarily derived from a nearly 43% stake in Paris-listed Sodexo, which has seen a 7.9% rise since the beginning of February. The family also holds a similar stake in Pluxee. Sodexo's market capitalization was €15.4 billion ($16.7 billion) before the spinoff, and both companies combined are now worth about €400 million more than that.
The rationale behind breaking up Sodexo was to unlock the value of Pluxee, according to the company. The family's holding company, Bellon SA, plans to play an active role in Pluxee, providing the executive chair and the chief financial officer, as well as furnishing advisory services. The family has been closely involved in the catering firm's operations since Pierre Bellon started the business in Marseille, providing meals to employees of local companies. It has since expanded to schools, hospitals, prisons, and higher-end catering.
Sophie Bellon, the eldest of Pierre's four children, took over as chairman in 2016 after a lengthy process involving a committee of independent directors. The family's unity has so far held under Sophie's leadership, with Nathalie heading Sodexo Live!, Francois-Xavier as chairman of the management board of Bellon SA, and Astrid as an adviser at the family's philanthropic foundation.