Italmobiliare completes its enhancement of Sirap Group's assets

The exit from the food packaging sector confirms the Group's ability to bring out the full industrial value of companies and effective strategy of portfolio rotation.

Milan, November 30, 2021 – Italmobiliare’s subsidiary Sirap Gema S.p.A. finalised its sale of Sirap France to Gruppo Happy today, thereby completing the exit plan from packaging activities in the food sector. The process, which started in January 2021 with the sale of assets in Italy, Poland and Spain, continued with the sale of Petruzalek (February 2021) and Sirap UK (November 2021).

The latest disposals in France and UK confirm the enhancement of the Sirap Group within Italmobiliare's NAV at June 30, 2021, which was equal to approximately 85 million euro.
The liquidity generated by these sales has been added to Italmobiliare's cash resources, ready to be allocated to future investments according to the holding company's diversification strategy.

Italmobiliare is an investment holding company that manages a diversified portfolio of investments with a Net Asset Value of more than 2 billion euro. Since 2017, it has consolidated its strategy of investing in companies with major innovative "Made in Italy" brands, supporting significant rates of growth with its know-how and models of development and governance.

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