Pistacchio S.p.A., a company specializing in the production of semi-finished pistachio products, has issued an €8 million minibond. Amundi SGR S.p.A. subscribed for the bond on behalf of the Amundi Eltif AgrItaly PIR fund. The bond has a six-year maturity and is repayable on a bullet basis.
RedFish LongTerm Capital (Holding di Partecipazione Industriale) served as financial advisor to Pistacchio, while Studio Gatti Pavesi Bianchi Ludovici acted as legal advisor (specifically, Attorney Marc-Alexandre Courtejoie and his team), while the notarial aspects were handled by Notary Public
Amedeo Venditti of Studio Prinetti Venditti, based in Milan.
Pistacchio S.p.A., founded in 2016, is a company specialized in the production of semi-finished pistachio products, and is active in the selection, production, and processing of dried fruit. The company has three production plants: the historic one in the Bronte district, one established in 2012 in Castiglione di Sicilia, and the new plant in Belpasso (CT). Pistacchio also controls the Turkish company Just Pistachio Ltd, which operates in the selection of international raw materials, guaranteeing the highest quality of the original product from the source of production. In 2021 (8 months), Pistacchio spa achieved a Production Value of 13.4
million and an ebitda of 1.8 million and an ebitda margin of 13.1%.
Pistacchio S.p.A. is currently owned by RedFish LongTerm Capital S.p.A. (a long-term industrial investment holding company founded in 2020 by founding partners Paolo Pescetto and Andrea Rossotti), the Marullo family, and Castello di Perno S.r.l., with a 20% stake.
Returning to Pistacchio, the company has just issued its third minibond, following the €750,000 senior secured bond issued in December 2019 and the €3.0 million senior secured bond issued by Anthilia. The issuance of its third bond is intended to support the company’s commercial and industrial development, with the goal of increasing market share, including through greater penetration of foreign markets, and thus positioning itself among the leading companies in the sector.
Domenico Sciortino, CEO of Pistacchio, stated: “Thanks to this long-term financing injection, the company now has the capacity to accelerate its business and strengthen itself during the Pistacchio acquisition campaign this fall 2022. The goal of expanding its financial instruments is the first step in supporting growth driven by a rapidly expanding market.” RedFish LongTerm Capital S.p.A. (Paolo Pescetto, Andrea Rossotti, Simone Lo Giudice, and Joanna Gualano) is an industrial holding company that invests in primarily family-run SMEs with high potential and significant growth plans. It supports entrepreneurs in implementing their development strategies and contributes to long-term value growth through both capital and expertise. The company was established to meet the needs of the capital market for Italian SMEs and to address the existing imbalance between the supply of private capital and the demand for support from SMEs. RFLTC aims to maximize the long-term industrial value creation benefits for small and medium-sized companies.
