CDP and Finint Investments join forces to support the growth of Feudi di San Gregorio

CDP and Finint Investments join forces to support the growth of Feudi di San Gregorio

The operation contributes to the development of the wine sector and stands out for its innovative financial structure, which provides for a revolving non-possessory pledge on the wines held in stock as collateral

 

Supporting the development of a southern Italian agrifood excellence while also contributing to the evolution of the wine industry through increasingly innovative financial instruments. This is the objective of the subscription by Cassa Depositi e Prestiti and Finint Investments of two bonds totalling 5 million euros issued by Feudi di San Gregorio, one of the leading companies in the wine supply chain in southern Italy.

Specifically, the issue consists of two tranches: the first, worth 3 million euros with a maturity of seven years, was subscribed by Finint Investments through the PMI Italia III Fund, while the second, worth 2 million euros with a maturity of six years, was subscribed by CDP. The operation features an innovative financial structure that uses a revolving non-possessory pledge on the wines held in stock as collateral. This instrument allows the company to retain availability of the pledged goods with the possibility of replacing them, while continuing to use them in its production and business processes. It is a solution that is perfectly aligned with the needs of the wine sector, where inventory is a strategic asset whose value increases over time as the product ages.

The proceeds from the issue will be used to support new initiatives for Feudi’s growth, as envisaged in its Business Plan. Indeed, they will serve to strengthen the company’s presence in Italy and abroad and to develop Borgo San Gregorio, the wine resort located within the winery.

Founded in 1986 in Sorbo Serpico, in the province of Avellino, and controlled by the Capaldo family, today Feudi di San Gregorio is one of the leading wineries in southern Italy and one of the most recognised Italian brands in the international wine scene. With more than 300 hectares of vineyards across five regions, over 200 suppliers under long-term contracts and annual production of around 4 million bottles, the company sells wine in more than 50 foreign markets.

Antonio Capaldo, Chairman of Feudi di San Gregorio, noted that “At this time of great uncertainty, we must strengthen our spirit of cooperation with our partners in order to be more resilient. This applies both upstream and downstream in the supply chain, but also to our relationships with financial institutions. I’m grateful to Finint and CDP for choosing to support us in our future growth.”
Vincenzo Paolo Carbonara, Head of Growth Finance at CDP, added that “We’re proud to have concluded this agreement in synergy with Finint Investments to strengthen the growth of an outstanding company such as Feudi di San Gregorio. This transaction has an innovative financial structure that leverages the value of the company’s inventory through the use of the non-possessory pledge mechanism and makes the project even more ambitious as it represents a new opportunity that we hope can also be taken up by other players in the wine industry. In this way CDP confirms both its closeness to companies in the sector seeking to grow in their target markets and the Group’s innovative capacity to develop instruments that increasingly meet businesses’ needs.”
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