Eric Wittouck: A Heritage of Sugar and Success Transformed into a 10-Billion-Euro Empire
Wittouck family
At the end of the 19th century, Paul Wittouck, an influential industrialist, laid the foundations for the sugar industry in Belgium. His most notable achievement was the development of the Raffinerie Tirlemontoise, later known as Tiense Suiker, which became a cornerstone of the industry. The de Wittouck lineage, linked to the old Brussels bourgeoisie, has long since established itself in the industrial sector. André-Michel, Wittouck's second son, married Hélène princesse Sherbatow, who had ties to the Russian imperial family and had fled to Belgium in 1920.
Towards the end of the 20th century, Tiense Suiker was controlled by Eric Wittouck, grandson of Paul Wittouck, and several of his cousins, including Guy Ullens de Schooten Whetnall. Tiense Suiker was sold in 1989 to the German company Südzucker for around 945 million euros. The transaction included not only the industrial infrastructure but also the European sugar quotas.
The proceeds of this sale were reinvested by the Artal holding company, which was advised by Boston Consultancy Group. Following their recommendations, Wittouck acquired Weight Watchers, an American weight management company, in what appeared to be an ironic move: reinvesting sugar profits in a diet company. Weight Watchers prospered financially and was listed on Wall Street. By the time Weight Watchers ran into financial difficulties, Wittouck's fortune was well established.
In 2000, Eric Wittouck bought Guy Ullens' share in Artal and took sole control of the Luxembourg-based holding company, which at the time was managing investments worth $6 billion on Wall Street. These included Blue Buffalo Pet Company, an organic pet food company worth an estimated $3 billion, and Weight Watchers in second place. Blue Buffalo was sold in 2017, bringing in a profit of1.8 billion euros.
Eric leads a luxurious life, resident in Monaco. He rarely makes the headlines, except when a tax affair linked to the purchase of his luxury yacht, Exuma, was revealed in the Malta Papers. The Exuma, built in 2010 and based in Monaco, measures 49 metres and cost 18 million euros. Once available for charter at 189,000 euros per week, the yacht has been used for private purposes since 2016.
As for Guy Ullens de Schooten, a leading figure in the Chinese art collection, he made headlines following a tragedy in 2023 when his son shot his second wife outside their home in Brabant Wallon, who did not survive the attack.
True to his low-key nature, Eric Wittouck disputes public estimates of its wealth at over 10 billion euros.
