Jbs acquires Italian King's Group
Its subsidiary Rigamonti assumes the historic brands King’s and Principe
Brazilian JBS Sa signed an agreement to acquire 100% of Italian King’s Group by its subsidiary Rigamonti, the global leader in production of bresaola. With this acquisition, JBS will have a presence in Italy’s three largest regions for pork specialties with classifications that recognize the quality and unique characteristics of its products.
With the investment of €82 million (US$92.5 million), the company acquires four plants in Italy, as well as the entire operation of Principe in the United States, which includes a plant dedicated to slicing cuts in New Jersey. Present in the United States and in over 20 countries, King’s Group is a market leader in the production of Prosciutto di San Daniele D.O.P. and is an important player in the production of Prosciutto di Parma D.O.P.
King's Goup is part of Kipre Holding, a company in turn controlled by the WRM group of the financier Raffaele Mincione.
The deal also covers the commercial operations of two historic brands, renowned for their high quality in the Italian delicatessen market: King’s brand, founded in 1907, recognized by the Italian government as a “Historical Brand of National Interest”, and Principe brand, founded in 1945. With the acquisition, Rigamonti will also hold a 20% equity stake in Piggly, Italy’s first producer of sustainable, 100% antibiotic-free pigs, with two facilities.
The acquisition of King’s Group facilities and brands is strategic to the expansion of JBS in the United States and Europe, but also in other regions because the company will now have a portfolio and structure for producing and distributing authentic Italian specialties like prosciutto, bresaola, bologna sausage, speck and salami with certification of origin, using craft manufacturing and curing techniques.
EFA News - European Food Agency