Rome, 18 May 2017 - SIMEST, a company that together with SACE forms the CDP Group's export and internationalisation hub, is supporting the expansion in China of Clabo (headquartered in Jesi), a leader in the manufacture of refrigerated display cases for restaurants. An agreement was signed for the acquisition of 25% of the newly created company Clabo Pacific Holding Limited, through the participation of SIMEST in a capital increase in an amount equal to about €0.6 million. The stake will rise to 49% of the Hong Kong company following the investment of the Venture Capital Fund operated by SIMEST. This agreement will support the implementation of the Italian company’s expansion plan in Asia – where it already has a sales office in Shanghai ‑ through the acquisition of the assets and organisation of Easy Best Ltd in Qingdao, China. Easy Best is the leading manufacturer on the Chinese market for refrigerated display cases for Italian artisanal gelato, a product that is gradually establishing itself in Chinese habits and in the local food culture. An initial investment of at least €3 million is planned.
Clabo posted turnover of over €35 million In 2016 and employs more than 160 workers. Following the acquisition, the group workforce will rise to 250 and turnover will exceed €42 million. The group produces refrigerated display cases for the storage and display of artisanal gelato ‑ designed and manufactured entirely in Italy ‑ that are sold worldwide through Clabo’s commercial subsidiaries in the United States, Brazil, Germany and China. Clabo has grown over the years thanks to the acquisition of well-known existing brands in the sector, such as Orion, Artic and FB. Since 2015 it has been listed on the Milan stock exchange, in the AIM segment. The company’s main customers include Nestlé, Haagen-Dazs, Grom, Puro gusto and Eataly.
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SIMEST is part of the CDP Group, 76% owned by SACE, with leading Italian banks and trade associations among its other investors. SIMEST and SACE form the export and internationalisation hub of the CDP Group, which offers the entire range of financial instruments to support Italian companies interested in competing and expanding internationally. In particular, SIMEST supports companies throughout their entire international development process, providing soft loans for internationalisation, export credit support and equity investments