Rodolfo Debenedetti (former Horonary Chairman of CIR) and Carlo De Benedetti
Rodolfo Debenedetti (former Horonary Chairman of CIR) and Carlo De Benedetti

1976

Carlo De Benedetti acquires control of the tanning company CIR, and as Deputy Chairman and Chief Executive Officer transforms it into a holding company for industrial investments. CIR acquires AMF Sasib which it then incorporates. The business is spun off in 1981 into the company Sasib which is listed two years later.

1978

CIR subscribes to a capital increase in Olivetti, and  becomes the principal shareholder  with Carlo De Benedetti taking on the role of Deputy Chairman and Chief Executive Officer. Olivetti is then adequately recapitalized and undergoes an important economic, financial and industrial reorganization. During the nineties Olivetti enters the sector of telecommunications and more specifically the sector of GSM mobile telephony, establishing Omnitel, which then rolls out its GSM service in 1996 and is subsequently acquired by Vodafone, becoming Vodafone Italia . CIR sells its stake in Olivetti in 1998.
Carlo De Benedetti in Olivetti when he was Vice President and CEO of the company
Carlo De Benedetti in Olivetti when he was Vice President and CEO of the company

1981

CIR takes control of Sogefi a start up in the field of automotive components.

1985

CIR acquires the food and confectionery business  Buitoni-Perugina group.

1986

Fourty percent of Cerus is acquired which in the same year becomes the holder of  a majority stake in the French company Valeo, operating in the automotive components sector. Cerus shares were listed on the Paris Bourse in July. The company  subsequently  makes important equity investments in the fashion and banking industries. Sogefi is listed on the Milan Stock Exchange and the following year takes control of  Rejna (suspensions).
Carlo De Benedetti during an Olivetti shareholders meeting
Carlo De Benedetti during an Olivetti shareholders meeting

1987

Creation of the Spanish holding company Cofir which in a short time becomes one of the main Spanish holding companies with investments in the tourist industry, real estate, the wine industry and an important hotel chain. It is then sold  in 1996.
 
CIR takes on a significant role in the Mondadori group, which in 1989 takes control of the Espresso group.






Carlo De Benedetti outside an Olivetti plant
Carlo De Benedetti outside an Olivetti plant

1988

The business of the Buitoni group is sold to Nestlé. An unsuccessful bid is launched for SGB (Société Générale de Belgique). The shareholding which gave rise to this bid was subsequently liquidated in 1991 after an agreement with the Suez group.

1989

The Espresso Group enters the radio sector by acquiring 50% of Radio Deejay. This stake   is increased to 86% in 1999.