Gattai, Minoli, Agostinelli & Partners with Crédit Agricole – Cariparma in the first food warehouse disinvestment transaction

Gattai, Minoli, Agostinelli & Partners, with the structured finance team headed by Emanuela Campari Bernacchi  together with the senior associate Valentina Lattanzi, has assisted, as transaction counsel, Crédit Agricole Cariparma S.p.A. in the creation of the first food vehicle of the French bank for the purchase and the valorization of food warehouses.

In particular, Italstock Sr.l. – the Italian vehicle – incorporated and entirely held by Crédit Agricole Cariparma – for the purchase, valorization and sell of food&wine warehouses, has purchased an ageing “Prosciutto di Parma DOP” ham warehouse from Gennari Italia S.p.A., company entirely held by the Granarolo Group, specialized in the cured meats production.

The transaction has been structured by Crédit Agricole Corporate & Investment Bank, Milan and it is the first transaction in the Italian market for the disinvestment of semi-finished products warehouses aimed at solving the typical issues relating to the food&wine sector of using the net working capital.

The incorporation of the vehicle Italstock  S.r.l. has been carried out by Zenith and, under a legal stand point, by Gattai Minoli Agostinelli & Partners. Whereas Agriconsulting S.p.A. will act as technical and monitoring advisor.