Italy's state lender CDP takes a slice of dairy group Granarolo
Funds will be used to support growth, potential acquisitions
3 April 2023
1 minute read
By: Italian state lender CDP has invested 100 million euros in dairy group Granarolo, which will use the money to fund growth and support potential acquisitions, its Chairman Giampiero Calzolari told Reuters.
CDP, which invested through the "Patrimonio Rilancio" fund financed by the Treasury, will get a stake of around 15% in the milk and cheese producer.
The 40 billion euro equity fund was launched to help businesses weakened by the COVID-19 pandemic, but it has also an arm dedicated to support healthier companies such as Granarolo alongside private investors.
Granarolo said in a statement that its overall 160 million euro capital increase was also subscribed by an agricultural worker pension agency for 30 million euros and the controlling shareholder Granlatte, which brings together farmers.
