Simest acquires 49% of Granarolo Usa
Resources for the acquisition of US manufacturing and marketing companies
With an investment of 10 million euros, Simest (Cdp Group) has acquired a 49% stake in Granarolo Usa, the American subsidiary of the Italian company among the leaders in the dairy sector. The operation was carried out through its own resources and with the intervention of the Venture Capital fund, a facilitating instrument that Simest manages in agreement with the Ministry of Foreign Affairs and International Cooperation.
The resources will contribute to the growth of the Bolognese group in the North American area, in line with the international development strategy and enhancement of the Italian milk supply chain. The first of these operations concerns the purchase of Calabro Cheese (see EFA News article of 25-10-21 ), a dairy company, specialized in the production and marketing of fresh products, in particular ricotta and mozzarella, with positioning in the high-end of the fresh cheese market also thanks to an effective distribution platform serving New York, New England and New Jersey areas as well as the South and West of the United States.
The USA today represents an important outlet market for Italian food, first outside the EU with an absolute share of 12.8%. The investment confirms the close collaboration between Simest and the Granarolo Group that began in 2017, the year in which the company completed a 30% capital increase in the French area of the company. The operation made it possible to support the development plan of the Bolognese Group on the French market and on neighboring markets.
EFA News - European Food Agency