CDP Helps Made-in-Italy Food Expand Abroad

CDP Helps Made-in-Italy Food Expand Abroad

Parmigiano Reggiano cheese maker Ambrosi is first to benefit from the deal, with 13 million euros in financing

Rome January 25, 2017

SACE and Banca Akros have agreed to work together to help medium-sized Italian agribusinesses expand abroad by making available 150 million euros in new credit lines, as well as a package of guarantees and financing to create warehoused goods.

As a result of the agreement, the companies concerned will have access to financing on favorable terms, including consortiums, organized by Banca Akros and guaranteed by Sace, to support investments abroad and to meet working capital requirements. Additionally, they will benefit from insurance and financial tools developed by Sace as a protective shell against the risk of non-payment of trade receivables, technological risks and inventory impairment.

With the agreement, Sace reaffirms its commitment to support Italian agribusinesses, companies operating in one of Italy’s most important strategic sectors for economic growth and the expansion of Made-in-Italy around the globe.

For the collaboration’s first deal, Sace, owned by CDP Group, and Banca Akros, the, investment and private banking arm of Banco BPM Group, granted 13 million-euros in financing to Ambrosi SpA, to support the Brescia-based maker of  Parmigiano Reggiano and Grana Padano chesses in the procurement of raw materials and the development of a finished product warehouse, for further growth in overseas markets, with particular attention to those France and the United States.