GranTerre S.p.a. and Parmacotto S.p.a. have signed an agreement to create the largest Italian company for branded cold cuts, ready meals and cooked hams. In detail, GranTerre, the cooperative company based in Modena, holding control (among other things) of the brand Casa Modena, takes over the entire participation of Parmacotto owned by AZ S.r.l., the financial that had taken over Parmacotto in 2018 after the collapse of the previous property.

The operation, underlines the joint press release, with the necessary time for screening by the competent authorities, will be refined in the coming months. 

The acquisition, of which no financial details have been disclosed, will create an entity with revenues exceeding 1.1 billion Euros, 2,500 employees, 20 plants (14 GranTerre and 6 Parmacotto) the ability to expand into all markets where the two companies are already present (US and main EU markets) and to open new ones; the shared industrial plan, over 5 years, foresees exceeding 1.5 billion Euros in turnover and achieving important synergies.

"GranTerre, after a significant but rapid path of aggregation and growth, with this operation is proud to complete the valorization at Italian and world level of Parmacotto, one of the most prestigious and renowned brands of Italian salumeria -explains Ivano Chezzi, president of Gran Terre Spa, head of the Gran Terre Group-. We are confident that, thanks to the commitment of our shareholders, the resources of GranTerre and those of Parmacotto will be integrated, creating value and marking a very important stage for our further growth, which may be followed by others, making Salumifici GranTerre the 'common home' of Italian deli".

"After an important relaunch phase, Parmacotto -said Giovanni Zaccanti, president of Parmacotto S.p.a-. immediately wanted to take up the greatest challenge: become a protagonist of a great Italian salami pole".

Intesa Sanpaolo, which follows both companies through the Agribusiness Division of the Banca dei Territori Division, acted as the transaction’s exclusive Financial and M&A Advisor through the Corporate Finance Mid Cap structure of the IMI Corporate & Investment Banking Division.

The GranTerre Group (which generated revenues of 1.6 billion Euros in 2023) was born on 1 January 2019 from the merger of Grandi Salumifici Italiani S.p.A. (now Salumifici GranTerre S.p.A.) and Parmareggio S.p.A (now Caseifici GranTerre S.p.A.). The group, wholly owned by a cooperative, owned and controlled by Consorzio Granterre Sca, produces and markets some of the main Italian excellence in cured meats, aged cheeses, butter and ready-to-eat dishes. In addition to the company name and brand Granterre, the Group includes brands such as Parmareggio, CasaModena, Senfter, Agriform, Alcisa, Teneroni etc. The Group has 18 production sites in Italy, a logistics base, 4 foreign branches, more than 2,800 employees and collaborators, and exports to 75 countries around the world. 

Parmacotto Group, with its four brands, Parmacotto, Parmacotto Selection, Boschi Fratelli and Salt & Twine, signs and produces a complete range of deli products, from traditional cold cuts to ready-to-eat meats, It has six production plants (4 in Italy and 2 in Boston, Usa- and last year it achieved a turnover of 150 million Euros.