JBS acquisition of King's Group finalized

JBS has concluded the acquisition of Italian meats company King’s Group, which has operations in Italy and the United States.

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(iqoncept | Bigstock.com)
(iqoncept | Bigstock.com)

JBS, through its subsidiary Rigamonti, has concluded its acquisition of King’s Group, a market leader in the production of Italian meats with operations in Italy and the United States.

The conclusion of the acquisition was announced on a notice on the JBS investor relations webpage, dated January 7.

With this acquisition, the Brazil-based JBS will have a presence in Italy’s three largest regions for specialties of pork with the Protected Denomination of Origin (DOP) and Protected Geographical Indication (IGP) seals. These classifications used by the European Union recognize the quality and unique characteristics of food produced in specific locations.

With the investment of EUR82 million (US$ 92.5 million), the company 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.

The deal also covers the commercial operations of two historic brands renowned for their high quality in the Italian delicatessen market: 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 brand, founded in 1945 in Trieste, in the region of Friulli-Venezia Giulia. 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.

Present in the United States and in over 20 countries, King’s Group is a market leader in the production of Prosciutto di San Daniele DOP and is an important player in the production of Prosciutto di Parma DOP, in addition to producing specialties like GranSpeck and Prosciutto Veneto DOP. The entire management of these assets will be assumed by Rigamonti, world leader in the production of Bresaola IGP.

This marks JBS’ second acquisition to be concluded in 2022. On January 4, JBS finalized its acquisition of Australian pork producer Rivalea Holdings.

JBS, a diversified agrifood company, is the world’s largest poultry producer.

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