A division of Italy’s GranTerre Group is joining forces with fellow cured meats producer Parmacotto to create a delicatessen enterprise with combined revenues of €1.1 billion ($1.19 billion).
Based in Modena, GranTerre anticipates that the merger of Salumifici GranTerre and Parmacotto will drive turnover to exceed €1.5 billion within the next five years. This strategic alliance will form a corporation boasting 20 production facilities and approximately 2,500 employees.
The GranTerre Group cooperative, which manages the Salumifici GranTerre brand, has finalized an agreement with the Zaccanti family, the owners of Parmacotto, through the latter’s investment vehicle to integrate the two organizations.
GranTerre has indicated that the agreement is expected to be finalized in the coming months, pending approval from the local competition authority.
Group president Ivano Chezzi stated, “GranTerre, after a significant but rapid process of aggregation and growth, with this operation is proud to complete the valorisation at an Italian and global level of Parmacotto, one of the most prestigious and renowned brands in Italian delicatessen.”
He further added, “Thanks to the commitment of the shareholders, the resources of GranTerre and those of Parmacotto will integrate, creating value and marking a very important stage for our further growth.”
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Salumifici GranTerre, alongside its production of cured meats and Parma ham, also offers a selection of cheeses, butter, and ready meals. Notable meat brands under their umbrella include Prosciutto San Daniele, Salame Cacciatore, and Speck Alto Adige. In the realm of cheese, the cooperative produces lines such as Parmigiano Reggiano, Grana Padano, Pecorino, Asiago, and Piave.
Established in 2019 through the merger of Grandi Salumifici Italiani and Parmareggio, Salumifici GranTerre operates 18 production facilities across Italy and reported a turnover of approximately €1.6 billion last year.
Currently, Salumifici GranTerre maintains 14 factories, while Parmacotto operates six. Together, both companies cater to the EU and US markets and are poised to expand their reach following the merger.
Giovanni Zaccanti, president of Parmacotto, remarked, “After an important relaunch phase, Parmacotto immediately wanted to take on the biggest challenge: to become the protagonist of a large Italian cured meats hub, where strong and sustainable growth, innovation in processes and products, quality exports, the centrality of consumers and territories will be the true recipes for the success that this operation will surely achieve.”
Parmacotto’s extensive lineup of cured meats and cold cuts includes Parmacotto, the Parmacotto Selection, Boschi Fratelli, and Salt & Twine. The company operates four production facilities in Italy and two in Boston, US.
This strategic move is poised to influence food and drink consumer trends profoundly, establishing a stronghold in the food and beverage industry as both companies leverage their combined strengths for future growth.
