Italy-based poultry heavyweight Amadori has recently acquired a majority stake in local peer Forno d’Oro, a company specializing in ready-to-eat sliced poultry, for an undisclosed sum. Through the deal, Amadori purchased a 70% stake in Forno d’Oro, while the Cosaro family, founders of Forno d’Oro, retain a 30% holding and remain involved in management. This acquisition aims to enhance Amadori’s position in the poultry meat sector and ensure effective collaboration between the two companies across the entire supply chain of high-end poultry slices. It will also provide Amadori with increased operational flexibility and production capacity.
Forno d’Oro, with a turnover of over €26m ($27.4m) in 2022, employs 76 individuals and operates from a production site spanning 8,000 sq m. Denis Amadori, CEO of Amadori, expressed excitement over the deal as it equips the company with the necessary know-how and structures to develop high value-added products and expand their range of services. He emphasized that this acquisition will serve as a crucial lever for their next strategic plan. In addition, Amadori recently acquired another Italian meat processor, Rugger, in February last year.
With 9,000 employees, Amadori is a major producer of chicken and pork products, which are distributed by leading retailers in Italy. In 2022, the company reported revenues of €1.73bn, marking a 27.5% year-on-year increase, while EBITDA rose by 77% to reach €152m. The acquisition of Forno d’Oro strengthens Amadori’s position in the market, enabling them to achieve further business development opportunities.
Severino Cosaro, representative of Forno d’Oro, shared his enthusiasm about the acquisition, stating that it aligns with the company’s values of quality, care, attention, and passion for their work. The deal reflects Amadori’s commitment to expanding its presence in the agri-food industry and delivering exceptional products to consumers.
In conclusion, Amadori’s acquisition of a majority stake in Forno d’Oro supports their strategic goal of strengthening their position in the poultry meat sector. This business move enhances Amadori’s operational capabilities, allowing them to pursue future growth opportunities.
