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News

Italy: Crédit Agricole grants a 15 million loan to Casalasco

03/07/2023 - François-Xavier Branthôme

Promoting the ethical and sustainable development of the Italian agri-food sector is the aim of the EUR 15 million loan granted by Crédit Agricole Italia and guaranteed by the SACE, the Italian insurance-financial company specializing in supporting businesses, to Casalasco Società Agricola SpA, one of Italy's largest tomato processors, which is also a member of the SACE Group's program for subsidiaries.

The loan, backed by SACE's SupportItalia guarantee, will enable Casalasco to expand its production structure and, thanks to technologically advanced solutions, reduce its energy and environmental impact.
The SupportItalia guarantee is an instrument set up by the SACE Group to support the cash-flow and investment needs of Italian companies affected by the Russian-Ukrainian conflict.

Costantino Vaia, CEO of Casalasco SPA
"Environmental, economic and social sustainability," says Costantino Vaia, CEO of Casalasco SPA, "has always been one of the founding pillars of the Group's philosophy. Casalasco's main objective is to increase competitiveness and efficiency, while preserving production and social factors throughout the value chain. The strong links that our company maintains with both the agricultural world and the retail sector are further strengthened by our partnership with Crédit Agricole, which supports and enhances our medium- to long-term projects with its financial tools."
"The loan granted in synergy with the SACE demonstrates Crédit Agricole Italia's commitment to being a trusted partner in the sustainable development of representatives of 'Made in Italy' excellence such as Casalasco, who are particularly attentive to the values of environmental protection and innovation," said Marco Perocchi, Head of Corporate Banking at Crédit Agricole Italia.

According to the Italian trade press, the company expects to close the 2023 financial year with over 600 million in consolidated sales (compared with 500 million in 2022 and 347 million in 2021), thanks also to the recent acquisition of 73.8% of Emiliana Conserve.
The company owns tomato brands such as De Rica and Pomì, and produces pulps and purees for a number of other major brands, including Star.

Casalasco SpA figures - Source: Sustainability Report 2021

Sources: finanza.lastampa.it, bebeez.it

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