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Italian meat producer makes millions in ham deal

1 commentBy Rod Addy , 14-Feb-2017
Last updated on 15-Feb-2017 at 12:49 GMT2017-02-15T12:49:15Z

Emanuela Campari Bernacchi provided legal advice for Italstock
Emanuela Campari Bernacchi provided legal advice for Italstock

Cured meats producer Gennari Italia has scooped €10 million in a single trade deal through the sale of 100,000 units of Protected Designation of Origin (PDO) Parma ham.

A newly established financial vehicle, named Italstock, which has been specifically set up to invest in unfinished food and wine stocks of Italian producers, clinched the transaction.

The first of its kind, Italstock has been created to enable food and wine producers to free the working capital absorbed by unfinished stock – a common issue in the sector. Companies can then reinvest the cash in their own activities without having to wait until the end of the ageing process to sell their products on the market.

Italian corporate and financial law firm Gattai Minoli Agostinelli & Partners advised the Italian bank Crédit Agricole Cariparma on the set up of Italstock, which is its wholly-owned vehicle.

Plans for stock

A spokesman for Gattai Minoli Agostinelli & Partners told GlobalMeatNews that Italstock planned to offload any food and wine stock purchased in this or other deals after a year: "After 12+ months Italstock will sell the stock back to the producer or to other operators in the food & wine supply chain (wholesalers, retailers, etc.)."

Gennari Italia is a subsidiary of food and dairy conglomerate Granarolo Group.

Parma ham is a popular cured Italian meat which last year saw strong export growth in China and Canada as this infographic illustrates. 

1 comment (Comments are now closed)

100,000 Units of Parma = €10million

Let's hope the meat is not from the emilia Romagna district in Northern Italy, south of Milan, currently under criminal investigation for gross maltreatment of animals. The unit keeps 6,000 animals in artificial light for their entire lives with reports of kicking and beating injured animals on their way to "primitive" slaughter. The whole operation a far cry from the glossy Parma "pampered pigs" special diet and care. Not much likelihood of Gennari Italia investing any of the profits in animal welfare projects I suppose.

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Posted by Chris
15 February 2017 | 16h112017-02-15T16:11:43Z

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