Parmacotto, the Italian cold cuts company which is leader in the cooked ham market, has been active for more than 40 years with traditional cured meats, which are sold both for the supermarket counter and packaged in trays for the shelves. In April 2019 it acquired Cibo Italia, which sells Italian cured meats in the US. This led to the birth of Parmacotto Llc, the American subsidiary of Parmacotto.
THE INTERNATIONAL EXPANSION
The goal for the next three years is an average sales growth of 25% and the building of a production plant in the US. “We decided to focus on the North American market because we think there is ample room for development for our products” – says Andrea Schivazappa, CEO of Parmacotto. “The investment in the purchase of 70% of Cibo Italia will allow to develop important synergies for the distribution on the American market and the high quality of Parmacotto products.”
THE FUTURE GOALS
Since 2018, Parmacotto’s revenues have been steadily growing. Two years ago the company’s sales reached 72 million euros, growing by +15% on 2017 (and with a 75% incidence of cooked ham). The goal for next year is to reach 100 million in revenues. Large-scale distribution accounts for 75% of the company’s turnover, followed by traditional retail trade (15%).
As far as innovation is concerned, Parmacotto is working with various Italian universities, including that of Parma, to test new recyclable materials with an eco-friendly view to limiting the use of plastic in packaging.
