Amadori acquires 100% of Rugger (Lenti)
The historic Turin ham factory will contribute to the growth in the high-end range of cured meats
Amadori and the Lenti family conclude an operation for the transfer to the Group of 100% of Rugger Spa, a ham factory in Santena (To), a specialist in cooking meat and owner of the historic Lenti brand. Rugger Spa was founded in 1935 and is now led by Ruggero Lenti, recently appointed president of Assica. In 2020 the company recorded a turnover of 43.9 million euros in the large-scale distribution, Horeca and retail channels, with an export share of 2% thanks to the presence of a selection of products in Germany, France, United Kingdom, Denmark, Greece, Austria and Switzerland.
Ruggero Lenti commented: "the sale gives us the opportunity to accelerate and strengthen the growth process started, with the possibility of increasing the distribution of products throughout the country through the development of important market synergies with a group like Amadori, which already today can count on a dedicated feed mill and a breeding park of 80 sites (10 of which are owned) for a total area of approximately 250,000 square meters".
The acquisition is part of the ambitious plan launched by the Group for the growth in the high-end range of cured meats, part of the maxi investment plan of 500 million euros in 5 years, in line with the corporate mission dedicated to the enhancement of white, pink and green proteins thanks to an integrated and sustainable Italian production chain.
Francesco Berti, CEO of the Amadori Group: "bringing our know-how to other market areas such as pork and cured meats, focusing on the high-end product range, represents a choice that is fully consistent with our corporate mission towards a supply chain (that of pigs) that we aim to make national, integrated and increasingly sustainable. Being able to count on Lenti's experience is undoubtedly a precious opportunity for mutual growth that will give new impetus to a sector of absolute excellence for Italian agri-food in the world".
The completion of the purchase operation, subject to obtaining the antitrust authorization, is expected within the first half of 2022. The Lenti family was assisted, as regards the shareholder Fulvia Lenti, by D&M Legal and Ranalli & Associati, as regards the shareholder Ruggero Lenti, from Mdt Studio Legale and Nash Advisory. Amadori was assisted by Mediobanca as financial advisor, by Ey Studio Legale Tributario for the legal aspects and by the Milanese firm Tcftc for the tax aspects.
EFA News - European Food Agency