Italian dairy group Granarolo has raised €160 million as part of a capital increase investment agreement with Patrimonio Rilancio - National Strategic Fund (NSF), managed by Cassa Depositi e Prestiti (CDP), and Enpaia – the national mutual fund for agricultural workers and employees.
Upon the completion of the transaction, the shareholding structure of Granarolo – currently comprising Granlatte, Cooperlat and Intesa Sanpaolo – will include Patrimonio Rilancio - National Strategic Fund and Enpaia.
Strategic Plan
The company said the transaction is part of the implementation of the Granarolo Group's 2023-2026 strategic plan, which includes significant organic growth objectives and operations aimed at strengthening the group's competitive position in Italy and abroad.
“This is an extraordinary capitalisation investment,” said Gianpiero Calzolari, chairman of Granarolo S.p.A.
“The company’s objectives with the implementation of the new plan are to consolidate and increase its presence in the domestic market through digital transformation and innovation in the product chain, strengthen its position internationally, and innovate in order to bring forward new product solutions in a constantly evolving market.”
'Doubly Valuable'
“This investment in Granarolo S.p.a. is doubly valuable for Enpaia, as it is both strategic and mission-related,” said the foundation's chairman, Giorgio Piazza and general manager, Roberto Diacetti.
"It is strategic because of its potential for growth in the agrifood sector, which is a hugely important and consistently successful element in the country’s economy; and mission-related because we believe it will positively impact the entire dairy system and foster the development of local economies by boosting employment and triggering a multiplier effect."
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
