Sammontana Ice Creams Secure 10M ESG Financing from Banco BPM

Italian ice cream and frozen pastry producer Sammontana has secured a $10.7 million (€10 million) 5-year loan from Banco BPM aimed at supporting development plans aimed at achieving precise sustainability goals, such as reducing the use of plastic in the production process and greenhouse gas emissions.

Sammontana Italia, created more than 70 years ago in Empoli thanks to the initiative first of Romeo Bagnoli and then of his sons Renzo, Sergio, and Loriano, is still controlled by the Bagnoli family through Sammontana Finanziaria srl. The group is present in the markets with its own brands (Sammontana, Tre Marie, Il Pasticcere, and Bonchef) and with licensed brands (Ringo, Pan di Stelle) and is a national leader in the production and distribution of ice cream under the Sammontana brand, of frozen pastries, in the production of products with private labels for the large-scale retail trade and in the marketing of savory products (bread, focaccia, ready meals).

The group operates directly through three production plants (Empoli, Vinci, and Colognola ai Colli) and 13 branches located throughout Italy employing more than 1,000 people, distributes products through a network of about 100 dealers and distributors, and has embarked on a path of internationalization with the opening of the branch in China (Shanghai).

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Sammontana felt the impact of the Covid-19 pandemic in 2020 while remaining profitable

In fact, Sammontana ended the year with $355.3 million (€330.6 million) in revenues (down from $416.7 million (€387.7 million) in 2019), an Ebitda of $20 million (€18.7 million) (from 45.6 million), a net profit of $2.15 million (€2 million) (from $22.35 million (€20.8 million)), and a net financial debt of $89.7 million (€83.5 million) (from about ($69.8 million (€65 million)). Speaking of debt, in July 2020 the group had secured another $10.7 million (€10 million) loan, this time provided by Cdp.

Leonardo Bagnoli, managing director of Sammontana, commented, “The agreement with Banco BPM represents in concrete terms an excellent example of a virtuous partnership in our sector capable of generating positive impacts for the environment. Despite the context we are experiencing, we have firmly decided to continue our path in favor of sustainability in the ice cream and pastry sector, and this agreement will contribute to the consolidation of that commitment.”

Marco Notari, head of Banco BPM’s Central-Northern corporate market, added, “Sammontana is a historical, consolidated, and successful reality that implements its development plans with a logic attentive to sustainability, the environment, and innovation. Being at their side confirms, even in this complex macroeconomic context, our commitment on the ESG front, a challenge that Banco BPM has decided to take up by implementing proactive customer support actions also through dedicated tools.”

Returning to the loan just disbursed to Sammontana, the company’s ESG achievements are surveyed every year thanks to the Life Cycle Assessment (LCA) that Sammontana has been conducting since 2016, based on the Agreement with the Ministry of Ecological Transition (then Ministry of the Environment) signed in 2016 and renewed in subsequent years.

In particular, Sammontana offsets CO2 emissions generated throughout the life cycle of the Barattolino, Fruttiamo, and Amando lines with environmental protection projects. The actions carried out by Sammontana Italia during the two-year period 2020-2021 on the Barattolino range of ice creams have allowed a percentage reduction in equivalent CO2 emissions of 13%, thanks to innovations in packaging and recipes.

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(Featured image by StockSnap via Pixabay)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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