News
September 27, 2023 – ArteOlio completes €7-million bank financing third round
ArteOlio, the Tuscan agricultural company that produces extra-virgin olive oil, has obtained additional medium- to long-term bank facilities, bringing total financial resources raised to 40 million euros. In detail, 7 million euros have been financed by Intesa Sanpaolo, Banca Tema and ChiantiBanca in this round. This successfully completes a third round of financing to support the latest expansion phase of the project, aimed at enhancing the value of this Italian agri-food excellence.
These latest loans obtained are in addition to those previously provided by Banco BPM, Banca Carige (BPER) and Banca Tema for approx. 17 million euros, on top of the 15 million euros of equity capital invested by the shareholders. These funds will support the development of more than 700 hectares of olive groves in Tuscany for the production and commercialization of a highest quality extra virgin olive oil based on the best innovative and sustainable practices.“We are grateful to the banks that lately joined ArteOlio’s many supporters in this important last phase of the project, and to Banca Tema, one of our strategic financial partners since the beginning, for increasing credit lines to us” – comment Augusto Lippi and Riccardo Schiatti, respectively president and CEO of ArteOlio. “With these latest lines, we have secured the possibility to further expand and bring to full fruition our project, which has steadily grown in ambition over the past few years, to invest substantial resources in the Tuscan territory and safeguard made-in-Italy olive growing at the highest standards.”
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