Fattorie Garofalo the company in Capua (CE) active for 60 years in the agri-food chain and, specifically, in the buffalo dairy sector through breeding activities, the production of DOP Campania buffalo mozzarella, meat and cured meats and management of points sale, acquired Fattoria Apulia of the Amadori Group, one of the largest Italian agricultural companies.
The operation, worth a total of 30 million euros, strengthens the production capacity of Fattorie Garofalo with an upstream integration of the supply chain which allows it to consolidate its leadership, responding to the growing demand of foreign markets and to start new distribution centers outside the Italy thus increasing the international projection of the company.
Fattoria Apulia, located in Cerignola (Foggia) in the lowland of Basso Tavoliere – one of the areas with the highest agricultural vocation in Puglia – operates on a single body surface of a total of 1.850 hectares. The company is active in breeding, with 2000 buffalo heads registered in the herd book for milk production, and had already been among the relevant suppliers of Fattorie Garofalo for several years, and also manages an important pig farm.
The acquisition, for a total value of 30 million euro, was carried out with a pool financing transaction for a total of 24 million euro disbursed by UniCredit and Intesa Sanpaolo with the guarantee of SACE, which with SIMEST forms the Polo export and internationalization of the CDP Group.
Fattorie Garofalo manages 6 buffalo livestock farms and three processing plants. And it stands out in the panorama of agri-food groups in southern Italy for being a net producer of renewable energy for the Gse - thanks to biogas and photovoltaics - and a strong vocation for organic production and internationalisation.
Fattorie Garofalo, has experienced constant expansion in recent years, with a turnover that in 2019 reached 100 million euros with a growth of more than 10% compared to the previous year, driven in particular by exports: the Group reaches with own products over 40 countries around the world, particularly in Germany, France, England, the United States and the Netherlands, with over 60% of its turnover represented by sales on international markets. The Garofalo Group also plans to increase its points of sale in Italy and abroad and to strengthen its presence in Asian countries as well.
This objective, functional to the increase in turnover and margins, will be obtained by significantly increasing the buffalo population, which will go from the current 10 heads to 18 among the farms owned by the group located in the PDO area and precisely in the provinces of Caserta and Foggia .
"The acquisition operation - said Raffaele Garofalo, Chairman of the group - will allow us to consolidate our leadership and grow in all sectors of interest to the group - animal husbandry, retail and processing - achieving economies of scale and with particular attention also to the health protocols, quality and traceability of our products.
The operation demonstrates how - even in a difficult period such as the current one - companies continue to plan growth in view of future production and profitability objectives, especially in a sector such as the agri-food sector which is of fundamental importance for the country's economy and of the South. The credit support will allow the company to strengthen the vertical integration of the supply chain within the group and our commercial development action, also expanding our range of action abroad, in particular towards Asian countries”.
