CDP Group closes the first operation in support strong foreign growth for Italian meats sector
CDP Group’s Sace has guaranteed an 18.6 million euro loan to San Daniele prosciutto maker Kipre Group, marking Italy’s national promotional institution’s first operation to support international growth of agribusinesses.
Kipre Group, a leader in the sale of raw ham and San Daniele prosciutto for 60 years, will use the loan extended by Banca Akros and guaranteed by Sace to support the procurement of raw materials and the development of a finished product warehouse. Kipre will maintain control in European and US markets and expand into Canada, Mexico and Russia. The loan, with a duration of 90 months, is designed to support the production of more than 400,000 Kings and Prince branded hams.
The operation – Sace’s first in favor of the meats sector – marks further collaboration between Banca Akros and Sace, which makes available to companies in the food sector (and other key sectors of Made in Italy), a package of financial and insurance solutions to enhance the in-stock goods and 150 million euro of new credit lines to be allocated to foreign development paths.
CDP together with its Sace subsidiary is active in the promotion of the Italian agricultural sector by encouraging the development of the industry and fostering the international positioning of our products.