BURRILLVILLE – It’s a merger billed as a unification between East Coast and West Coast markets in the field of fine Italian meats.
Burrillville-based Daniele, Inc. has completed a merger with Utah-based Creminelli Fine Meats, LLC, a move that reportedly has created “the largest dry-cured charcuterie company in the United States.”
It is the second major move in the past four months for a food manufacturer that has operated in town for some 42 years.
Daniele announced in September that the company had been sold by the Dukcevich family to a private equity firm from Illinois known as Entrepreneurial Equity Partners, or e2p.
Founded by Croatian husband and wife refugees, Stefano and Caroline Dukcevich, the business moved to Pascoag in 1977, where the company’s first prosciutto plant in Rhode Island was built. In 2012, a third generation of the family, led by Davide and Stefano Dukcevich, opened the company’s third plant in Burrillville, a 300,000-square foot facility that doubled Daniele’s production capabilities.
The $50 million charcuterie plant sits in an industrial park off Broncos Highway, producing brands including Del Duca Prosciutto, sopressata, salame, pancetta, mortadella and capocollo. Products are sold to supermarkets, grocers, delis and restaurants across the United States including Costco and Trader Joes.
In a merger announced by Daniele’s new parent company e2p on Tuesday, Jan. 7, the Burrillville company is expected to maintain its brand and identity, while sharing resources with Creminelli, based in Salt Lake City.
Creminelli products are sold at retailers including Starbucks and Whole Foods.
“Their focus on innovation, product quality, and culinary artisanship are aligned with our values and history, making the company an amazing fit for Daniele,” said Daniele’s CEO, David Finch of the move. “Together with the outstanding team at Creminelli, we plan on expanding into new markets and broadening our product offerings. As a company we seek to elevate the snacking and charcuterie experience in the U.S.”
The merger is not expected to impact the 600 employees at Daniele’s three plants, according to reports.
Creminelli was founded in 2007 and has a focus on ethically-sourced protein snacks.
“The merger with Creminelli Fine Meats is a great next step for Daniele as it looks to expand its presence and differentiated offering in the growing market for specialty protein snacks,” said e2p Managing Partner Mark Burgett. “e2p is proud to partner with Daniele and Creminelli, and we look forward to leveraging our substantial experience, expertise and networks in the food industry to support their continued growth.”
Other investments by e2p include Sara Lee Frozen Bakery and Superior Cake Products. BofA Securities acted as exclusive financial advisor to Creminelli.
The companies declined to disclose the financial terms of the deal.