Amadori, the second largest poultry company in Italy, is strengthening its position in the industry with the acquisition of a 70% stake in Forno d’Oro.
Forno d’Oro specializes in the production and processing of high-end poultry products.
The Forno d’Oro founding family, the Cosaros, will retain the remaining 30% of the company, and will continue to participate in its management.
"Through this majority partnership, in which the founding family of Forno d'Oro remains within the corporate structure to collaborate with us on further business development, we equip ourselves with know-how and structures to develop the offer of high value-added and service content products: elements that will allow us to plan the business of the next Strategic Plan with these additional levers," said CEO Denis Amadori. "The group acquires a state-of-the-art production capacity and an important operational flexibility, which will allow us to preside over the markets with our brand to achieve further margins of business development."
With the acquisition, Amadori intends to respond to the demand for poultry cold cuts, expanding its assortment and the range of roasts and cold cuts of chicken and turkey under the brand and for major retailers. With this operation, the company aims to develop its business in a market that accounts for 14% of total cold cuts and cured meats in Italy.
"Since its inception, Forno d'Oro has always been a family even before being a company, and today it becomes part of a large group at the top of the Italian agrifood industry, which shares our same values: search for quality, care, attention and passion for its work," said Severino Cosaro of Forno d'Oro. "We are happy with this agreement and together with Amadori we are starting a new phase of growth and development, always in the name of the best Italian gastronomic tradition."
Amadori, according to information from the WATTPoultry.com Top Poultry Companies Database, is the second largest poultry producer in Italy and the tenth largest in Europe. During the past year, Amadori slaughtered 250 million broilers.
The company is also involved in the production of turkeys and table eggs.
