SugarCreek Packing Co. Acquires Veroni S.p.A.

Correggio , 06/01/2023 - The US company SugarCreek Packing Co., a leader in the protein manufacturing industry, announced the 100% acquisition of the Italian based company, Veroni S.p.A., that, meanwhile, acquired 100% of the associated company Carnigest S.r.l, specialized in the salami production. Veroni S.p.A was founded in 1925 in the small town of Correggio. Today, the company operates six production facilities in the Emilia Romagna region of Northern Italy and a slicing plant in the USA. With more than 600 products, 280 employees in Italy, 70 in the USA and around 200 sales brokers, Veroni S.p.A sells worldwide in all distribution channels: retailers, traditional shops, hotels, restaurants and cafés. Veroni is among the top 15 companies in the cured meats sector in Italy and # 1 in the Imported Italian charcuterie segment in the USA*. John Richardson, Chairman & CEO of SugarCreek commented, "We are very excited about the coming together of our two companies and how it will position us in the marketplace. Both companies offer unique, high quality and food centric assortments. Together, we can build on the Veroni group and grow and widen our product offerings for our current and future customers. Quality food and customer care are our guiding principles. Most importantly, both organizations have outstanding associates and very qualified and talented teams. Together we will build on the core values and food forward culture. Our goal is becoming a market-leading and quality-driven organization, that will deliver the highest quality products for all our customers”. Stefano Veroni, President of Veroni Group, and 4th generation family member of Veroni said in a statement "Selling a long-held family business is never easy, but we thought this was the right thing to do at the right time. We strongly believe in the benefits it will bring to our associates and to our customers. We have confidence that with our manufacturing synergies, we will lead the business to new heights. The family and its values have always been our distinctive asset. Today we leave our family of origin to enthusiastically enter into a new bigger family: SugarCreek. We know that we have the right associates and teams in place, both in Italy and US and together with SugarCreek, we look forward to strengthening our positioning and growing our business with our passion for tradition and high quality products." Stefano Veroni, President of Veroni Group, and 4th generation family member of Veroni said in a statement "Selling a long-held family business is never easy, but we thought this was the right thing to do at the right time. We strongly believe in the benefits it will bring to our associates and to our customers. We have confidence that with our manufacturing synergies, we will lead the business to new heights. The family and its values have always been our distinctive asset. Today we leave our family of origin to enthusiastically enter into a new bigger family: SugarCreek. We know that we have the right associates and teams in place, both in Italy and US and together with SugarCreek, we look forward to strengthening our positioning and growing our business with our passion for tradition and high quality products." Thanks to this acquisition, Veroni S.p.A becomes a more international company, while it keeps its roots firmly anchored. SugarCreek confirmed the willingness to invest in the expansion and modernization of the production sites both in Italy and USA, in order to guarantee the highest quality standards and create new job opportunities. SugarCreek’s Daniel Hammer, the senior vice president of international business development, will assume the role of chief executive officer for Veroni USA and be an engaged director in the Veroni S.p.A. Guido and Marco Veroni, current managing directors in the Veroni S.p.A., will keep their roles and manage the company, according to the principles of continuity and autonomy. Furthermore, the current management has been confirmed, as well as all employees. Lastly, the Veroni family would like to thank Dr Francesco Veroni, dean of the company and honorary president. Dr. Veroni, together with his deceased cousin Giulio, led the company from 1966 to 2020. From a local business, it quickly became a national reality: the quality landmark in the charcuterie sector. Veroni's products are appreciated not only in Italy and Europe, but now also in the USA. During the acquisition process, Veroni S.p.A. has been assisted by the accounting firm "Studio Morandi". A special thanks to Mr. Giulio Morandi and Mr. Alberto Palicelli. SugarCreek has been assisted by the law firm “Gattai, Minoli, Agostinelli & Partners” led by partner Laura Ortali and composed of several others including associates Enrico Candotti and Tommaso Soragni as well as the law firm “Taft Stettinius & Hollister LLP” led by partner Peter Solimine and composed of several others including partner Sam Zeller.