JBS S.A., already the world’s largest meat-packing company, has bought another.
It’s subsidiary, Rigmonti in Italy, bought all of Grupo King for more than $100 million Cdn.
The purchase includes four facilities in Italy and the Principe brand in the United States, including a plant in New Jersey.
JBS said in a securities filing that the acquisition will allow it to have presence in Italy’s three largest regions for pork specialties.
Grupo King's is present in the U.S. and in more than 20 countries, and is the market leader in the production of Prosciutto di San Daniele D.O.P.
The company also plays an important role in the production of Prosciutto di Parma D.O.P., according to JBS.
With the acquisition, Rigamonti will also hold a 20 per cent equity stake in Piggly, Italy’s first producer of sustainable antibiotic-free pigs, with two production facilities.
The brand King’s, founded in 1907, is recognized by the Italian government as an “Historical Brand of National Interest”. The brand Principe was founded in 1945.
