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UniCredit launches €600 million fund to invest in Italian companies

Dienstag 06 Okt 2020

New fund from Investindustrial, China Investment Corporation (CIC) and UniCredit will invest in Italian mid-market companies to help them grow in China. The first acquisition by the fund is CSM Ingredients, an international bakery ingredients business

China-Italy Industrial Cooperation Fund (CIICF) is an innovative partnership between Investindustrial, CIC and UniCredit that will offer significant investment, predominantly to Italian companies, with the aim of establishing and accelerating their business development in China. The €600 million fund, fully underwritten by the three partners, will be invested by Investindustrial, a leading independent investment group focused on southern Europe.

As a consequence of CIIFC’s investments, Chinese consumers will benefit from improved access to quality European goods and services, primarily in the consumer, industrial manufacturing and healthcare sectors.

Richard Burton, CEO Corporate and Investment Banking of UniCredit, said: “UniCredit is proud to be a key partner of the Italian economy, and the launch of this innovative fund will expand on our work in supporting our clients in their international commercial effort, with a full range of products and services. This innovative cross-border partnership will benefit Italian companies focused on the Chinese market, particularly those in the consumer, industrial and healthcare sectors, while also stimulating international commerce and relations.”

UniCredit will both invest in, and promote the opportunity for Italian companies, thanks to its extensive commercial network in Italy and its fully plugged-in Corporate & Investment Banking offering of top-class advisory and client solutions. Active in China since 1982, UniCredit has established presence in Beijing and Shanghai.

The first acquisition by the fund is CSM Ingredients, with the aim of establishing a sizeable pan-European platform in the food ingredients sector further diversifying into higher value add ingredients and higher growth regions, including Italy and China.

CSM Ingredients is a manufacturer and distributor of bakery ingredients, with a wide product portfolio, including brands Artisal, Arkady, Braims, Craigmillar, Marguerite, Masterline, MeisterMarken and Ulmer Spatz. CSM Ingredients generates annual revenues of approximately €500 million with eight manufacturing facilities, including one in China and one joint venture in Tunisia. The main markets in Europe are Germany, Italy, France, the UK and Benelux, with a growing presence in China and Asia.