Fine wine and high-tech panettoni, CDP flies high with Italian food

Fine wine and high-tech panettoni, CDP flies high with Italian food

SACE and SIMEST promote growth abroad with wine group Terra Moretti, and food automation company Iteca

Rome, December 20, 2016

Two new SACE and SIMEST operations, one door for internationalization, to support Italian food industry excellence.

Sace, in partnership with Iccrea BancaImpresa, has finalized a 1-million-euro credit line to support investment in research and development of Iteca, a Verona, Italy-based company specializing in systems for the production of pasta, bread, pizza and Italian desserts, in particular panettone and pandoro.

Iteca represents food-sector excellence, with customers in key international markets (US, Russia, UAE, Indonesia, Chile). The operation, conducted as part of CDP, Sace, and the European Investment Fund’s Programma 2i per l'impresa, will help Iteca with costs to register new patents and develop research and innovation projects for the growth of companies in Russia , central Asia, the Middle East, and the Americas.

Simest has also decided to focus on the Italian agricultural and food tradition, supporting the growth of the Terra Moretti group, an emerging player in the wine industry. The Ebrusco,Italy-based enterprise, with solid skills acquired with the progressive affirmation of Franciacorta Bellavista trademarks and Contadi Castaldi, has decided to continue the path of growth, aiming to compete with great European wine producers. Following a capital increase, Simest has paid 12 million euros for a 14% capital stake in the Group. With this new contribution, Terra Moretti acquired the cellar Sella & Mosca in Sardinia and Teruzzi & Puthod in Tuscany.

CDP Group, in accordance with its role of the National Promotional Institution, invests in the competitiveness of Italian business system. Together with Sace and Simest, it supports the agrifood sector, which represents a strategic sector for the expansion of exports and positioning of Made in Italy abroad.