JBS acquisition of King’s Group to increase charcuterie market share in US and Europe
14 Dec 2021 --- Global protein-based food company JBS has acquired King’s Group by its subsidiary Rigamonti, an expert in producing bresaola, air-dried, salted meat, with an investment of €82 million (US$92.5 million).
With this acquisition, the company gained four plants in Italy, two in the Parma province, one in Vicenza and the fourth in Udine. A slicing factory in New Jersey is part and parcel of the operation of Principe in the US.
“This acquisition is in line with our strategic approach to grow 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 US$200 million in an Italian specialties plant,” says Gilberto Tomazoni, JBS global CEO.
The deal covers commercial operations of two historic brands – King’s brand, founded in 1907 in Sossano, in the Veneto region, recognized by the Italian government as a “Historical Brand of National Interest” and Principe, founded in 1945 in Trieste.
Charcuterie market share growth
JBS will now have a portfolio for producing prosciutto, bresaola, bologna sausage, speck and salami, with certification of origin.
JBS will now have a portfolio for producing prosciutto, bresaola, bologna sausage, speck and salami, with certification of origin.
King’s Group specializes in the production of Prosciutto di San Daniele, Prosciutto di Parma, GranSpeck and Prosciutto Veneto. The company has a strong presence in the US and more than 20 countries.
The King’s Group acquisition will grow the JBS presence to three of Italy’s largest regions for specialty pork, carrying the Protected Denomination of Origin and Protected Geographical Indication seals.
The acquisition will also strengthen JBS’ presence in the US and Europe. JBS will now have a portfolio for producing prosciutto, bresaola, bologna sausage, speck and salami, with certification of origin, using craft manufacturing and curing techniques.
Certification of origin branding
“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,” says Claudio Palladi, Rigamonti CEO.
JBS will also reap additional synergy in the US market, where the company’s subsidiary Swift Prepared Foods is building a new Italian meat and charcuterie facility in Columbia, Missouri, expected to open in 2022.
Rigamonti, producer of Bresaola Protected Geographical Indication, will manage the assets.
Earlier this year, JBS launched a blockchain-powered platform to support its direct suppliers looking to boost sustainable beef cattle breeding traceability in the Amazon Biome.
Edited by Inga de Jong
