JBS S.A. said Friday it took control of 100 percent of Rigamonti Salumificio, one of the 10 largest cured meat processors in Italy, as it terminated a joint venture with another Italian company.
Since December 2009 JBS had controlled 70 percent of Rigamonti, which included three plants in the Sondrio region that produce more than 7,000 tons of finished products per year and hold a 40 percent market share.
With revenues of $130 million Euros per year, Rigamonti is the leading brand in the bresoala sector, a specialty of Italian gastronomy that is made dried cured beef in the mountains of Northern Italy.
“The acquisition of the remainder of Rigamonti confirms JBS interest in Europe. JBS is already studying further investments to increase production at the Rigamonti plants in the Vale de Valtelina region of Lobardy in North Eastern Italy,” the company said in a news release.
JBS also is a player in Italy’s hide and leather processing industries in Arzignano and in Matera. The company also has specialty distribution bases in Belgium and England.
Source: meatingplace
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