UNICREDIT AND INTESA SANPAOLO SUPPORT THE RANA GROUP’S GROWTH STRATEGIES
The Verona-based company signs an agreement with Unicredit and Intesa Sanpaolo for the disbursement of 90 million euro of credit lines
Verona, 17 May 2013 – In their role as Mandated Lead Arrangers, Intesa Sanpaolo and UniCredit have structured a 90 million euro loan for the Rana Group in order to support the Verona-based company’s investments in the United States. Unicredit will also act as agent bank.
This operation, which was finalised in the last few days, will involve both credit institutes in equal measure and lead to the creation of three distinct credit lines, two of which designed to support the company’s past and future growth strategies, and the other created to satisfy working capital requirements.
“Intesa Sanpaolo is proud to have the opportunity of standing alongside the Rana Group, the epitome of top-quality Italian food, during this important phase in its internationalisation process and we hope that it can set an example for the many other solid and interesting Italian companies that have decided to expand on foreign markets”, explained Massimo Pasquali, Head of Industry Coverage − Corporate Italia, in the Corporate and Investment Banking Division of Intesa Sanpaolo.
“The Rana Group growth strategy – commented Andrea Burchi, Verona Area Manager at UniCredit – is a fine example of how an Italian brand can successfully compete on the international markets. The assistance provided by UniCredit in this operation is tangible proof of our commitment to supporting top-quality Italian companies as they seek new business opportunities on the foreign markets.”
“The internationalisation process that I launched 15 years ago has successfully taken the Rana Group to 37 different countries and this agreement with two major credit institutions, such as UniCredit and Intesa Sanpaolo, will help to accelerate this development strategy”, remarked Gian Luca Rana, CEO of the Rana Group. “As such, I am very happy with this partnership between the banking and the business worlds, one that I feel is both highly constructive and consistent with our business objectives.” Gian Luca Rana went on to say: “In October Rana began producing fresh pasta and sauces in the United States with the construction of a 14,000 m2 plant that currently employs over 100 people. Even though the US market is highly competitive, our goal is to keep growing and to become the market leader there, just as we have managed to do in Europe.”
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Last updated 17 May 2013 at 12:49