JBS, the global protein-based food company, has signed an agreement to acquire 100% of King’s Group and Principe by its subsidiary Rigamonti.
Rigamonti assumes the brands King’s and Principe operating in the Italian delicatessen market, and the group’s entire operation in the United States. With the investment of €82 million, JBS also acquires four plants in Italy, two in the province of Parma, one in Vicenza and the fourth in Udine, as well as the entire operation of Principe in the United States, which includes a plant dedicated to slicing cuts in New Jersey.
JBS said that the acquisition of King’s Group facilities and brands is strategic to the expansion of the company in the United States and Europe. The company will now have a portfolio 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.
In addition, Rigamonti now holds a 20% equity stake in Piggly, Italy’s first producer of sustainable, 100% antibiotic-free pigs, with facilities in Mantova and Verona.
Claudio Palladi, Rigamonti CEO, said: “We are certain that JBS will work to preserve the intangible value of our brands and products with certification of origin, protecting the history of these veritable items of Italian heritage as it has already done with Rigamonti.”
The deal was approved by the JBS board of directors and will be concluded after approval by antitrust authorities.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
