Italian cured meats company Rigamonti, part of JBS Group, has signed an agreement to acquire 100% of Italian producer Gruppo King’s, according to media reports.
The €82 million deal includes the group’s four plants in Sossano (Vicenza), San Daniele del Friuli (Udine), Calestano and Langhirano (Parma).
The deal will make Rigamonti the owner of two historic Italian brands, King's and Principe.
A Historical Brand
Founded in 1907, King’s has been recognised by Italy’s ministry of economic development as a "historical brand of national interest".
Elsewhere, Principe, founded in 1945, is a leader in the Prosciutto San Daniele D.O.P. segment, in addition to producing specialties like GranSpeck and Prosciutto Veneto D.O.P.
Rigamonti will take over the US operations of Principe, which include a slicing plant in New Jersey, and a 20% stake in Piggly, a sustainable pig farm, certified '100% antibiotic free', with production sites in the provinces of Mantua and Verona.
Owned by Brazilian meatpacker JBS, Sondrio-based Rigamonti's products are distributed in 23 countries.
The acquisition of Gruppo King’s is a strategic move for further expansion of JBS as it will produce and distribute authentic Italian specialties like prosciutto, bresaola, bologna sausage, speck and salami with certification of origin, using craft manufacturing and curing techniques.
JBS will also reap additional synergy in the US market, where its subsidiary Swift Prepared Foods is building a new Italian meat and charcuterie facility in Columbia, Missouri, which is expected to open this year.
In November of last year, the Brazilian meatpacker announced plans to acquire Spanish company BioTech Foods, while also creating a new research and development centre in Brazil for lab meat.