€6 million from CDP for Southern Italy’s largest winery
CDP is committed to supporting the very best of ‘Made in Italy’ – especially in the south of the country. On this occasion the beneficiary is Cantine Ermes, a cooperative winery founded in 1998 in Gibellina (Sicily). The co-op currently has around 2,400 members and over 13,500 hectares of vineyards.
Alongside its traditional Sicilian production, Cantine Ermes has added new and renowned wine-growing areas over the years, including Veneto, Puglia and Abruzzo. This significant growth has turned the co-op into southern Italy’s largest wine producer.
This success is borne out by the figures: revenues of more than €100 million, of which €11 million from exports, and around 11 million bottles produced per year. And it has achieved all this while strengthening relationships with the communities and identities that its wine represents – and with winegrowers.
The CDP Group has supported the development of Cantine Ermes with various products. The modernisation of production facilities – including new bottling equipment, forklifts, refrigeration plants – and the construction of a labelling line was financed with €5 million guaranteed by SACE.
Direct financing has also been complemented by the use of alternative finance instruments. Cantine Ermes participated in the industry-wide ‘basket bond’, promoted with UniCredit to finance the growth of companies in the wine and culture sectors. The co-op also received €2 million to buy machinery and create a new cellar to manage the increased quantities of finished product to be processed.