SACE (CDP Group) and Credito Valtellinese have finalized a € 10 million line of credit, issued by CREVAL and guaranteed by SACE, earmarked for funding the international growth plans of IVS ITALIA S.p.A.
IVS is the largest Italian group (and no. 3 in Europe) in automatic foodservice, through its 70 branches in Italy, France, Spain and Switzerland. Every year its 150,000 vending machines dispense 700 million items through locations in small, midsize and large companies, universities, hospitals and heavily trafficked areas such as train and metro stations and airports. IVS Group has more than 2,200 employees, 1,600 of them assigned to restocking, technical service and customer care, each with a fleet vehicle.
The loan will enable IVS to strengthen its positioning in the French, Spanish and Swiss markets through the acquisition of new business units.
With this joint initiative, SACE and CREVAL confirm their commitment by supporting a successful Italian enterprise that has achieved effective international growth in an industry where competition from foreign multinationals is fierce.
The financing comes after the agreement recently announced by SACE and CREVAL to provide € 100 million in new loans to the bank's customer companies to support innovation and growth abroad as part of the Programma 2i per l’Impresa initiative of SACE and EIF (EIB Group).