With CDP’s Support, Clabo Expands in Asia

With SIMEST's participation in a capital increase, the leader in the production of gelato and catering display cases will grow in foreign markets

Rome May 23, 2017

SIMEST agreed to acquire a minority stake in the Hong Kong arm of gelato display case maker Clabo di Jesi in a move that will give the company the funds needed to expand in Asia.

The CDP subsidiary paid €600,000 for 25% Clabo di Jesi’s Hong Kong operation, giving it funds to buy Easy Best Ltd., a leading maker in the Chinese market of refrigerated showcases for gelato, Italian soft ice cream.

Simest’s could increase its stake in Clabo Pacific Holding Limited to 49% due to the Venture Capital fund managed by SIMEST.

The product, an important Made-in-Italy symbol, is becoming increasingly popular in local food culture. CDP’s participation is crucial for Clabo’s objective of shoring up its leadership in China and continuing on its international growth path, started thanks to the acquisition of historical brands such as Orion, Artic, and FB.

Listed on the Milan Stock Exchange, Clabo sells all over the world through subsidiaries in US, Brazil, Germany, and China and includes, among its main customers, Nestlè, Haagen-Daz, Grom, Pure Taste and Eataly. Through the support of SIMEST, the company can reach annual revenue of over €42 million.