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Fiorucci salumi changes hands and returns to Europe

Historic delicatessen acquired by Germany's Navigato and Ireland's White Park

Fiorucci cured meats are returning to Europe. In fact, the company is moving from Mexican multinational Sigma Alimentos to Germany's Navigator group and Ireland's White Park Capital. Cesare Fiorucci charcuterie, founded in Norcia (Perugia) in 1850 and now based in Pomezia (Rome), had been acquired in 2011 by Campofrio Food, a Madrid-based multinational that later merged with Mexican food multinational Sigma Alimentos in 2015. Now Cesare Fiorucci is 100% merged under Fiorucci Holding, a special purpose vehicle controlled by Germany's Navigator group and Ireland's White Park Capital.

Navigator is a diversified industrial group that specializes in acquiring European companies to improve their profitability and secure a long-term future for its stakeholders. It is based in Düsseldorf and manages a diversified portfolio of companies in Germany, Sweden, France, and Switzerland. White Park, on the other hand, is a Dublin-based industrial group specializing in the reorganization and revitalization of business units. 

With the acquisition, a statement explains, the new partners "aim to relaunch the offer and distribution of the products of the historic Fiorucci brand in the reference channels in Italy and abroad by virtue of a major long-term investment and relaunch plan". 

The goal, in essence, is to return a 170-year-old company and brand to profitability and growth commensurate with its potential. The long-term relaunch plan includes an initial reorganization phase to be followed by a growth phase supported by significant investments. 

Cesare Fiorucci is then recapitalized with significant financial resources. "Fiorucci has been able to combine tradition and innovation in a wonderful way, becoming an iconic brand in Italy -explains Claudio Rustioni, ceo of Fiorucci-. It is an honor to be able to contribute my experience to Fiorucci's continued success".

"Fiorucci is synonymous with values we admire: tradition, goodness, joie de vivre, quality -adds Christian Muschick, ceo of the Navigator Group-. This is a strategic commitment aimed at strengthening our position in the food industry." He is echoed by William Belford of White Park Capital: "Fiorucci represents an Italian attitude to life that can only be transmitted in Italy and from Italy to the rest of the world".

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EFA News - European Food Agency