CDP has joined, contributing €15 million itself, with Unicredit and other banks in a financing agreement for a total of €160 million to support the investment programme of Consorzio Casalasco, market leader in the production and sale of Made in Italy tomatoes.
It is a mark of the excellence of Casalasco's activities that this 100% Italian product is traceable from cultivation to distribution and quality controlled along the entire supply chain, which at the same time is increasingly focussed on sustainability.
The Consortium, based in Rivarolo del Re, in the Cremona area, is the leading preserved tomato supply chain in Italy and the third largest in Europe, with an association of 370 farms, 7,000 hectares of cultivated land and a processing capacity of over 560 thousand tonnes of tomatoes per year.
Production takes place entirely in Italy, with 3 factories in Cremona, Parma and Piacenza and, in addition to tomato products, also includes those from other fruit and vegetables. In addition to its own brand products, such as Pomì and De Rica, Casalasco also operates through large-scale retail trade brands and as a co-packer for large multinational companies in the food and agricultural sector.
35% of its turnover is generated in Italy and 65% in 60 countries around the world, particularly those in Europe and increasingly the United States, and in 2019, it reached €310 million, an increase of 17%. Foreign markets are becoming increasingly important for Italian tomato producers.
Of the 37 million tonnes of fresh tomatoes destined for industrial processing worldwide in 2019, Italy was second in terms of volumes (after the United States and ahead of China), supplying 5 million tonnes, 50% of European production and generating an estimated €3 billion of turnover for related industries.
With this operation, Cassa Depositi e Prestiti is contributing to the achievement of the UN 2030 Agenda Sustainable Development Goals, specifically Goal 8 (Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all) and Goal 9 (Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation).
The funding will allow a further growth phase for Consorzio Casalasco, which plans to strengthen its financial structure and make significant investment in both industrial and commercial areas. The new promotion and commercial expansion projects mainly relate to exports, particularly the Pomì and De Rica brands, true ambassadors of Made in Italy quality throughout the world.
With this strategic operation, CDP confirms its role of supporting Italian excellence by strengthening its commitment to the growth and internationalisation of Italian companies.
“We thank CDP for the trust it has placed in us" said Consorzio Casalasco Director General Costantino Vaia. "Once again they are supporting our work and our solid and long-term development plan at such a delicate time for the country. We are aware of the food and agricultural sector's strategic role and working with a prestigious partner such as CDP is an incentive for us to always strive to do better".