Parmacotto, an Italy-based producer of cooked ham, has entered the North American market through the acquisition of US-based distributor of Italian food products Cibo Italia. Parma-based Parmacotto, established in 1978, has taken a 70% stake in a new US business formed through the deal - also called Parmacotto - with the remaining 30% owned by the founding members of Moonachie, New Jersey-based Cibo Italia.
The founding members, Larry Saia and Alessandro Sita, become the new company's president and CEO respectively. Financial details have not been disclosed. Like Cibo Italia, the new business' core activity will be the distribution of cooked ham (prosciutto cotto) and other products made in Italy.
