Italian pasta company Pastificio Felicetti opens for the first time the doors to a shareholder. The goal is to keep on growing and supporting the investment of about 28 million euro for the construction of a new production plant in Molina di Fiemme (Trento). This is an important challenge after several years in which the company – that celebrates its 110th anniversary this year – has seen its reference markets grow following a demand that has gone beyond its capability to respond. This determined the full saturation of the historic Predazzo plant (in the picture above), which now produces 20 million kg of pasta per year in over 200 formats, in a structure that had already been expanded in 2013.
The expansion of Pastificio Felicetti
In May 2017, the company chose to continue to grow in Trentino region and signed an agreement with Trentino Sviluppo, the Autonomous Province of Trento, and the Municipality of Castello Molina di Fiemme for the sale of a production area in Molina di Fiemme. Trentino Sviluppo will make available a building area of 16,200 square metres, supporting internationalisation activities. Sparkasse, who acted as an ‘investment bank’ with the selection and presentation of the new shareholder ISA, will also be ‘arranger’ for pooled financing with other banks of the entire project – providing about 23 million euro.
The new business partner
The Felicetti partners have identified ISA (Istituto Atesino di Sviluppo SpA) from Trento as the most important holding company at a regional level, with an investment portfolio of over 160 million euros. Moreover, it is the most culturally similar partner for the Felicetti family. ISA will obtain a 22% stake in the company through an investment of 5 million euros with the aim of accompanying Felicetti in further development plans that do not exclude a listing on the Stock Exchange in the medium-term.
Numbers of excellence
With 69 employees, a turnover of 37 million euro in 2017 – 50% of which coming from exports – and an EBITDA of 11.7%, Pastificio Felicetti aims for excellence and consolidated leadership. Opening our company to a strategic partner for growth such as ISA – declares Riccardo Felicetti – is a cultural revolution that our family is facing with a view to ensuring a wide-ranging future, ready for the new challenges of a global market, while maintaining the traditional values and territorial location that remains essential to us. Giorgio Franceschi, ISA CEO, adds: Our mission is to actively participate in entrepreneurial projects with strong repercussions on the Trentino territory. We are pleased to be able to contribute to the new important development path of Pastificio Felicetti.