Italy-based deli-meat firms Rigamonti Salumificio and Kipre Group have signed an agreement to create commercial synergies abroad with the main focus being the US.
Bresaola specialist Rigamonti, which is owned by Brazilian meat giant JBS, and ham producer Kipre plan to use the latter’s Principe di San Daniele and King’s brands as the basis for the push.
Rigamonti said it will invest EUR200m (US$235.5m) in the initiative to promote Italian delicatessen products.
The businesses suggested that by agreeing to work together, they can “strengthen the growth process of both companies on international markets and in particular in the US”.
Kipre said that for its part it will make a “consolidated portfolio of US customers” available to Rigamonti, including Whole Foods Market, of which Kipre is the exclusive supplier for Prosciutto di San Daniele and Parma ham.
Claudio Palladi, CEO of Rigamonti, said: “Companies that join forces to compete on international markets allow the Italian system to be more competitive and to seize growing opportunities for market consolidation.
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“The agreement with Kipre confirms our willingness and that of the parent company JBS to increase export quotas in the US. To do this, we will take advantage of Kipre’s solid experience and that of a key brand like Principe.”
Fabrizio Boaron, CEO of Kipre, said: “Excellencies such as King’s since 1907 and Rigamonti since 1913 [will] come together to conquer, with their history, their passion and their quality, important milestones for the Made in Italy in Italy and abroad.”
Rigamonti sells its products in 23 countries while Kipre Group, owned by investment firm WRM Group, is also active outside Italy. It employs more then 300 people in six plants.