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Agreements SACE - 09 July 2019

CDP Group supports international growth and innovation of Casillo Group

CDP and SACE SIMEST have subscribed two bonds for €17.5 million each to support the international expansion and investment in innovation of the agri-food sector leader in the processing and sale of wheat and wheat products.

Working in synergy, CDP and SACE SIMEST have finalized a €35 million financing transaction to support the plans for international growth and investment in innovation of Casillo Group, the agri-food market leader in the processing and sale of wheat and wheat products based in the Apulia region of Italy.

With this operation, CDP Group confirms its role as a catalyst of resources in support of innovation and growth, also thanks to an integrated offering to meet the needs of companies, with a specific focus on internationalization and innovation-oriented firms. 

Specifically, CDP has subscribed a bond issue for €17.5 million to support investment in innovation and technological renewal and to boost the production capacity of a Group that is market leader in the wheat sector. The investments are part of Casillo Group’s strategic plan aimed at increasing its competitiveness, also by optimising its wheat processing systems. 
SACE SIMEST has guaranteed a bond issue for the same amount (€17.5 million) subscribed by the “Sviluppo Export” Fund managed by Amundi SGR, using resources made available by SACE SIMEST and the European Investment Bank (EIB), to support its expansion into international markets. Casillo Group, which has also benefited from the support of the regional office in Bari, will use the resources made available by CDP Group to increase its production capacity by acquiring small local industrial enterprises. This will enable it to compete in global markets and meet the demand of markets in Central Europe, the Balkan States, North Africa and Arab countries, and to boost its export share, which currently stands at 70% of turnover.

In the financing operation, Banca Finanziaria Internazionale S.p.A. (Banca Finint), specialized in structured finance, acted as paying agent and the Securitisation Services S.p.A. subsidiary as issuing agent. Law firm RCCD acted as legal advisers for CDP Group.

Casillo Group, which reported a turnover of more than €2 billion at the end of 2018 and has 358 employees, was founded by Vincenzo Casillo in 1958. Today it is one of the leading global players in the grinding and wholesale marketing of cereals for the main pasta manufacturers. It is also a primary international player in the agricultural commodity trading sector. Milling and handling over two million tons of wheat per year, the Group is one of the world’s main market-makers in the durum wheat sector.


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