Cassa Depositi e Prestiti (Cdp) and Crédit Agricole Italy have signed a deal worth 34 million euros, with Sace guarantee, to support the Andriani group, a company active in the agro-industry and innovation food sector, for the creation of a new plant in North America. The agreement aims to increase sustainable investments, consolidate the presence in the North American market and enhance pasta production capacities.
Exporting Made in Italy to America
The company aims to export the Italian spirit and the principles of a balanced diet, offering healthy products for people and the planet. Andriani will thus have the resources available to carry out an important project investment in Canada, consisting in the construction of a new production site. The investment, part of the company's internationalization strategy, will help improve its competitive position in the North American market, increasing production capacities and fostering the creation of new jobs.
La financing structure is linked to the achievement of specific indicators of ESG performance (Environmental, Social and Governance) identified in the Andriani Sustainability Plan. These indicators include the efficient management of energy consumption to reduce CO2 emissions, the strengthening of the circular economy and the sustainability of the supply chain. The agreement also envisages bonus mechanisms that reduce the cost of financing if these objectives are achieved.
To become the largest global producer of healthy pasta on the market
The transaction will allow the company to to become the leading global producer of healthy pasta in the market, both how co-packers than with your own brand Felicia. The company will use carefully selected raw materials, processed and transformed within its own factories. The new production site will be built at Innovation Park, in London in the county of Middlesex, Ontario. Work will begin in July with the aim of producing the first pack of pasta in the second quarter of 2024.
“Supporting the international growth of Italian companies and making more effective and convenient financial instruments available in the event of the achievement of specific ESG objectives allows them to prepare for new and more ambitious future challenges. Thanks to this approach, in fact, a double positive effect is generated: strengthening the competitiveness of the Italian entrepreneurial fabric by focusing on one of the key sectors of "Made in Italy" and accelerating the sustainable development of companies, declared Andrew Nuzzi, Head of Companies and Financial Institutions of Cassa Depositi e Prestiti. Furthermore, in line with the provisions of our 2022-2024 Strategic Plan, operations in the “innovation food” and related sectors will play an ever-increasing importance, even more so in those cases in which we have the opportunity to support local excellences such as Andriani”.
"This operation confirms our commitment to support a strategic supply chain such as the agri-food one. "We work every day to intercept the needs of our customers and we are proud to support the growth plans of an Italian excellence with a strong vocation for sustainability and to internationalization like Andriani” he commented Robert Ghisellini, Co-General Manager of Crédit Agricole Italy.
“Working alongside Crédit Agricole Italia, CDP and SACE has once again been a strengthening experience for our people. Teamwork has been rewarding and has allowed Andriani and the entire financial pool to realize an operation that is extraordinary. As an Italian I feel proud of the result achieved, much appreciated by Canadian institutions. We are grateful to Crédit Agricole Italia, to CDP and to SACE for their trust and support, which allow us to expand our range of action, opening up to new markets more and more effectively, implementing investments in innovation and product quality that maintain people at the center and promoting new sustainable food models, also at an international level” he concluded Michael Andriani, President and CEO of Andriani SpA Benefit company.
