One of the longest running family feuds in Germany and the business world came to an end when the descendants and heirs of Theo Albrecht, co-founder of the Aldi supermarket empire, reached an agreement to reorganize the Aldi Nord group. In the new institution, according to Bloomberg, which is also reported by moneyreview.gr, the families of Theo’s two sons, namely Theo Jr. and Berthold, his late brother, will receive equal shares. The settlement ended a long-running dispute that saw the highly secretive billionaire family not only face trial but make headlines. Theo Jr. attacked his brother’s widow, Babette Albrecht, accusing her of living a luxurious life and investing in art and vintage cars. Aldi Nord, controlled by three trusts, is the northern offshoot of a discount supermarket chain created when brothers Theo and Karl took over the family grocery store in Esse after the war. They separated in 1960 when they quarreled over whether their stores should sell cigarettes. So in Germany, the northern Aldi Nord and the southern Aldi Sued were created. These two weapons have over 10,000 stores in the country and other countries. Theo’s family also controls Trader Joe’s, which she acquired in 1979.

Aldi Nord is the northern part of the Aldi discount supermarket chain.

According to the Bloomberg Billionaires Index, the family, with a net worth of around $18 billion, ranks as one of the most financially powerful dynasties on the planet. Aldi’s story begins in 1946 with the slogan “Best quality at the lowest price”, which spawned the business model that the two brothers would follow and essentially created the discount supermarket market. Very quickly, Aldi (named after the first letters of the words Albrecht and Discount) turned into a chain and gradually conquered the world. Finally, if the founders Theo and Carl were famous for anything, it was their humble lives. The family lived away from prying eyes, in fortified houses. And according to legend, two brothers bought a secluded island in the North Sea, where they played golf, collected old typewriters and grew orchids. They had a very good reason for this secrecy, since in 1971 Theo was kidnapped for 17 days, the kidnappers demanded a ransom of 7 million marks, they received it, then they were arrested and the family managed to return only half of what they had. give.