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Mario Brescia Cafferata: Peruvian Business Tycoon

Fortunato Brescia Tassano started a real estate company that took advantage of Lima, Peru’s growth. It eventually became Grupo Breca (also known as Grupo Brescia). Fortunato died in 1951 and his sons Pedro and Mario Brescia Cafferata took over. Mario with his brother Pedro led Grupo Breca which had under it a number of companies as well as a stake in BBVA Continental, one of the largest banks in Peru.

Under Mario’s leadership the company grew and ventured in different businesses such as agriculture, fish products, cement, paint products and mining.  The Peruvian government took control of the firm’s agriculture companies in 1969. The government also took its fishery business in 1973. Grupo Breca would later retake a foothold in the fish products business with Technologica de Alimentos (TASA) which is now one of the largest producers of fish meal and fish oil in the world.

The firm has a mining subsidiary, Minsur which has tin mines in Peru and Brazil. Minsur bought 70 percent of Mina Justa, a copper project in Peru, for $505 million in 2012. The mining firm also began a gold mining project along the border between Peru and Chile which has met opposition from groups saying the mine will contaminate local water supply.

Pedro gave his shares in the companies to his nephews and his sister, Ana Maria while Mario’s sons own 40 percent of Grupo Breca. Mario died on May 16, 2013.