Italy-based ice-cream and frozen goods producer Sammontana has received a grant of €15m ($16.5m) to go towards a new production line.
Cassa depositi e prestiti (CDP), the state-backed Italian development bank, has put forward the cash for the Empoli-based company to build a new ice-cream production line at its Colognola ai Colli site.
Sammontana said the new line at its facility in the Verona region will increase its production and also lower the company’s environmental impact. The company said it will aim to reduce the use of primary raw materials in the production process.
The deal was completed through the Green Guarantee of SACE, an Italian export credit agency that is wholly owned by the Italian Ministry of Economy and Finance (MEF).
Leonardo Bagnoli, chief executive officer of Sammontana, said: “This collaboration with SACE and CDP represents an important new step for our development in a sustainable key and in the Italian market.
“The deal consolidates our commitment for the future to create quality products capable of satisfying the needs of consumers and bringing smiles to everyone’s homes. We are very happy that SACE and CDP are supporting us in this goal, helping to generate a better future for everyone.”
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Sammontana, which was founded in 1948, operates three production plants in Italy and has around 1,000 employees, as well as a network of over 200 dealers and distributors.
Just Food has contacted the Italian frozen goods company for further details about the investment.
Earlier this year, in more Italian ice-cream news, frozen pizza business Italpizza bought a majority share in ice-cream business Italgelato.
Italpizza, which already owned a minority stake in the business, had also snapped another ice-cream maker Mantua Surgelati for €60m (then $63.5m) in October last year.