JBS acquires Italian meats firm King’s Group
Deal gives JBS access to Italy’s three largest regions for pork specialties with Protected Denomination of Origin and Protected Geographical Indication seals
Brazilian meat company JBS, through its subsidiary Rigamonti, has finalised its acquisition of King’s Group, a producer of Italian meats with operations in Italy and the US for €82 million, WATTPoultry has reported.
King’s Group has a presence in more than 20 countries and the acquisition gives JBS access to Italy’s three largest regions for pork specialties with the Protected Denomination of Origin and Protected Geographical Indication seals, used by the EU to recognise the quality and unique characteristics of food produced in specific locations.
JBS has acquired four plants in Italy: two in the province of Parma, one in Vicenza and another in Udine, as well as Principe in the US, which includes a plant dedicated to slicing cuts in New Jersey.
Gilberto Tomazoni, JBS’s global chief executive said: “This acquisition is in line with our strategic approach of growing in high value-added products. It puts us among the leaders in Italian salumeria and leverages our commercial strategy in the US, where we are investing $200 million in an Italian specialities plant. The growth potential of the King’s and Príncipe brands in Europe and the United States is significant.”
Rigamonti’s chief executive Claudio Palladi, commented: “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.”
Last month, JBS finalised its acquisition of Australian pork producer Rivalea Holdings.