INTESA SANPAOLO PROVIDES FINANCING TO PASTIFICIO GAROFALO FOR SUSTAINABLE DEVELOPMENT

 

Bruno Pacini, Head of Industry Food & Beverage and Distribution of Intesa Sanpaolo’s IMI CIB Division: “This transaction with a leading Italian firm such as Pastificio Garofalo shows that the food sector is increasingly attentive to the impacts of its activities and production on the community in which it operates and on the environment more generally.”

Massimo Menna, CEO of Pastificio Garofalo: “We aim to be a company that is increasingly focused on sustainability and we therefore have to take account of the main factors affecting our industry to mitigate any negative effects and maximize the positive impacts of our actions from a social and environmental point of view; we are pleased to be able to count on the support and encouragement of Intesa Sanpaolo in so doing.”

Milan, 30 July 2021 - Intesa Sanpaolo and Pastificio Lucio Garofalo – the historic pasta factory founded in Gragnano in 1789 – have signed a facility agreement for an amount of €25 million aimed at achieving specific sustainability targets.

The transaction, structured by Intesa Sanpaolo’s IMI Corporate & Investment Banking Division, headed by Mauro Micillo, consists of a six-year credit line with a fixed interest rate and is characterised by a pricing mechanism linked to the achievement of specific ESG (Environmental, Social, Governance) targets.

The loan provides Pastificio Lucio Garofalo with access to funds to support its Investment Plan and confirms the Company’s constant commitment to introducing a model aimed at increasingly consolidating sustainability as a strategic lever for creating value for all its stakeholders.

The ESG objectives linked to the transaction, in fact, call for a significant reduction in energy consumption, emissions and materials used, as well as virtuous waste management.

“This transaction with a leading Italian firm such as Pastificio Garofalo shows that the food sector is increasingly attentive to the impacts of its activities and production on the community in which it operates and on the environment more generally,” said Bruno Pacini, Head of Industry Food & Beverage and Distribution of Intesa Sanpaolo’s IMI Corporate & Investment Banking Division. The Intesa Sanpaolo Group thus confirms its commitment to supporting Italy’s ESG transformation, by bolstering companies that aim to improve their sustainability profile”.

“True to our principles of quality, innovation, transparency and passion, we want to respond with concrete actions to the demands of our consumers who are increasingly aware of and attentive to what they bring to the table,” commented Massimo Menna, CEO of Pastificio Garofalo. We aim to be a company that is increasingly focused on sustainability and we therefore have to take account of the main social and environmental trends in our industry to mitigate any negative effects and maximize the positive impacts of our actions; we are pleased to be able to count on the support and encouragement of Intesa Sanpaolo in so doing.”

 

Press information

Intesa Sanpaolo

Media Relations, Corporate & Investment Banking and Governance Areas

stampa@intesasanpaolo.com