Vicenzi Obtains New Financing For Global Expansion Plans
Italian confectionery company Vicenzi has obtained a €55 million credit line from UniCredit to boost its brands and expand globally.
The credit line signed by the company, which operates the Matilde Vicenzi, Grisbì and Mr. Day brands, will be used for repayment and refinancing of the group's credits, as well as to support new growth plans.
More specifically, Vicenzi plans to increase investment in foreign markets and to improve its logistics, production and organisational efficiency.
The group’s international activities accounted for 29% of overall sales in 2016, but the company plans to increase investment in this area going forward, with a particular focus on the USA, Germany, France, China and the Middle East.
Closer to home, Vicenzi also plans to invest €10 million in a new plant next to its San Giovanni Lupatoto site in Verona, which is set to be operational by 2020.
The group ended 2017 with a turnover of around €117 million, up 10.2% compared to 2016, and with an EBITDA of around €11 million (+20%).
According to president Giuseppe Vicenzi, the company is planning to float on the stock exchange in the coming years.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine