CDP in support of De Cecco, the Abruzzo pasta leader on the global market

CDP in support of De Cecco, the Abruzzo pasta leader on the global market

A loan of 12.5 million euros for the Abruzzo-based company

The long history of De Cecco began in 1886 and its success is linked to an ability to innovate and the determination of Filippo Giovanni De Cecco. Until 1889, pasta had been sundried but Filippo Giovanni De Cecco refused to let the cold weather in Fara San Martino, a town surrounded by the Abruzzo mountains, stop production, inventing the first pasta drying machine, later cited in the Treccani Encyclopedia, and freeing the process from seasonal constraints.

But De Cecco's vision did not stop at production plant efficiency and he went on to launch his products on overseas markets. The operation was a success and in 1893 he won the gold medal at the World's Columbian Exposition in Chicago for his “Macaroni, Vermicelli” and its superior manufacture, colour and firmness after cooking.

De Cecco has come a long way in over a century of history, becoming the third leading pasta producer in the world and the second in Italy. Its products can be found on tables in over 109 different countries and it has a turnover of almost 500 million euros.

Cassa Depositi e Prestiti strongly believes in the development plans of this Abruzzo Made in Italy flagship company, and is proud to have contributed to supporting it on global markets by acquiring a 12.5 million euros share of the bond loan issued for 21 million euros by De Cecco in 2018.

This important transaction is aimed at supporting the dynamism and innovation of Italy’s production sector, in line with the values of CDP and Filippo Giovanni De Cecco who, more than a century ago, was already bringing Italian excellence to the world.

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