(Finance) – Gargano reda historic Apulian agri-food production and processing company, has obtained a direct financing of 6 million euros thanks to Azimut Directthe group’s fintech Azimuth specialized in alternative finance solutions for capital raising. The operation benefited from SupportItalia SACE guarantee.
The financing, subscribed by an institutional investor and disbursed in 3 tranches of 2 million euros each, was made up of a mixed format between term loan and RCF (Revolving Credit Facility), we read in a note.
The financial operation will go to strengthening of working capitalin particular with regards to supplier management, with a focus on supporting the summer harvest campaign and the autumn phase of product transformation by the company.
“The collaboration with Azimut has allowed us to find the financial support necessary to support the 2023 production phase which, compared to 2022, involves an increase in the quantity of processed raw material of approximately 20%. This will allow us to satisfy the ever-increasing requests of our customers,” he commented Domenico Demaiopresident of Rosso Gargano.
“The operation confirms how Azimut is focused on the real economy, supporting the growth of dynamic and innovative companies that are, at the same time, rooted in the territory, such as Rosso Gargano, an Italian agri-food excellence”, declared Mariangelo TieriArea Manager Southern Italy Macrozone Area 5 of Azimut.