Auricchio acquires majority stake in Cascine Emiliane

Auricchio, a world leader in the production of provolone cheese based in San Giuseppe Vesuviano, has acquired a majority stake in Cascine Emiliane (Castelnuovo di Sotto, RE), one of the oldest companies specialising in seasoning and packaging of Parmigiano Reggiano cheese.

The operation involved an investment of €7 million and will enable Auricchio to broaden its portfolio with the addition of a high-quality product that generates a turnover of €45 million and is sold worldwide (export share of 75%, mainly in Europe, Asia, Middle East, Australia and North America).

The Auricchio group has eight production facilities in Italy and is expected to post revenues of more than €250 million in 2017 (Italian sales up 3%). It holds a 50% share of the domestic Italian provolone cheese market and around 5% of the international market. Exports account for more than 35% of revenues and are sold in 50 countries in regions as diverse as North and South America, Australia, Europe, UAE and the Far East.