A traditional Brazilian brand of processed meat, well known in the country for its mortadella, has been acquired by the Hormel Foods Corporation for U$ 104mi. According to a statement released by the company, the acquisition of Ceratti is part of their interest in the South American region.
“The Ceratti brand has a strong family ownership and a rapidly-growing distribution of its portfolio of value-added products. This acquisition is a strategic fit for Hormel Foods, provides us an initial entry into the Brazilian market and will serve as a platform for future growth in South America”, says Hormel Foods.
“The acquisition of the Ceratti brand allows us to enter the fast-growing Brazilian market with a premium brand,” said Larry Vorpahl, group vice president, Hormel Foods and president, Hormel Foods International Corporation. “The Ceratti brand is poised for continued growth given its strong reputation in the market and outstanding products. This acquisition allows us to establish a full in-country presence with an excellent team of professionals in sales, marketing, operations, logistics and accounting. We are committed to continued international expansion and, with the addition of the Ceratti brand, our global footprint will continue to grow.”
Despite mortadella being sneered by many Brazilians as being cheap and full of starch, the brand Ceratti is seen differently by locals. It is considered as the only one that appeals to the A/B socio economic groups and has always praised itself for fowling an authentic Italian recipe from the Emilio-Romagna area.