JBS completes the acquisition of the Kings group in Italy and the USA - ISTOÉ DINHEIRO

JBS informed that on February 4, through its subsidiary Rigamonti, it concluded the acquisition of Grupo Kings, the market leader in the production of Italian charcuterie, which has operations in Italy and the United States. In a statement sent to the Securities and Exchange Commission (CVM), the company recalls that the operation follows JBS’ strategic direction of growing in products with very high added value and strengthens the company’s position in the production and distribution of authentic Italian specialties, placing the company among the leaders in the production of Italian salumeria.

The business encompasses the commercial operation of two historic brands, known for their high quality in the Italian charcuterie market.

The Kings brand, founded in 1907, and recognized by the Italian government as a “Historical Brand of National Interest”, and the Principe brand, founded in 1945.

With this acquisition, Rigamonti also holds a 20% stake in Piggly, Italy’s first sustainable and 100% antibiotic-free pig farmer, with two production units.

The announcement of the operation was made in mid-December, for US$ 92.5 million. At the time, the company said it would take over four factories in Italy, in addition to the entire Principe operation in the United States, which includes a plant dedicated to slicing parts in New Jersey.

Present in the United States and in more than 20 countries, the King’s Group is the market leader in the production of Prosciutto di San Daniele PDO and has a relevant role in the production of Prosciutto di Parma PDO