Parmacotto is a new player in the American food market. 70% of the company is controlled by Parmacotto, SpA, founded in 1978 in Parma, Italy. The remaining 30% of the company is owned by the founding members of Cibo Italia, Larry Saia and Alessandro Sità, who are now respectively president and CEO of Parmacotto.
Parmacotto's core business is in the production of cooked ham (prosciutto cotto) and its core value is in using top quality products that are 100% made in Italy, which is the focus of its product launch in the U.S. market. Parmacotto results from the acquisition of Cibo Italia established 10 years ago to sell Italian "salumeria" (cold cuts and cured meals) in the U.S. market to both large-scale retail and traditional delicatessens.
The company aims to reach an annual growth of 25% within the next 3 years, with a target turnover of $20 million by 2020. "We have decided to focus on the US market because it presents significant opportunities for the development of our products. In terms of positioning and distribution, our investment in Cibo Italia aims to create synergies with the American market," said Parmacotto, SpA CEO Andrea Schivazappa.
"Thanks to our know-how, today we are at an important milestone: the introduction of a brand in the American market, a brand made of history and quality, that will respond to the consumers' expectations,” said Sità and Saia. “We will focus on the introduction of Parmacotto products (cooked and roasted ham) in the deli area and as pre-sliced products for retail shelves. The heritage of this brand will be the true ambassador, our 100% made in Italy products."
For more information, visit http://www.parmacotto.com