Sammontana Ice Creams secures 10 million ESG funding from Banco BPM

Italian ice cream and frozen pastries producer Sammontana secured a $10.7 million (€10 million) 5-year loan from Banco BPM to support development plans aimed at achieving specific 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 on 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. brand, frozen pastries, in the production of own-brand products for mass distribution 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 around 100 dealers and distributors, and embarked on the path of internationalization with the opening of the subsidiary 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 revenue (compared to $416.7 million (€387.7 million) in 2019), an Ebitda of 20 million dollars (18.7 million euros) (compared to 45.6 million), a net profit of 2.15 million dollars (2 million euros) (instead of 22.35 million dollars ( 20.8 million euros)), and a net financial debt of 89.7 million dollars (83.5 million euros) (instead of approximately 69.8 million dollars (65 million euros) ). In July 2020, the group had obtained another loan of 10.7 million dollars (10 million euros), this time provided by Cdp.

Leonardo Bagnoli, Managing Director of Sammontana, said: “The agreement with Banco BPM concretely represents an excellent example of a virtuous partnership in our sector capable of generating positive impacts for the environment. Despite the context we are going through, 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 this commitment.

Marco Notari, Head of Business Market Center North of Banco BPM, added: “Sammontana is a historical, consolidated and successful reality that implements its development plans with a logic attentive to sustainability, the environment and to innovation. Being at their side confirms, even in this complex macroeconomic context, our commitment to the ESG front, a challenge that Banco BPM has decided to take up by implementing proactive customer support actions also via dedicated tools.

Going back to the loan that has just been paid to Sammontana, the company’s ESG achievements are identified each year thanks to the Life Cycle Analysis (LCA) that Sammontana has been carrying out since 2016, on the basis of the Agreement with the Ministry of Ecological Transition (then Ministry of the Environment) signed in 2016 and renewed in the following years.

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

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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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