- Centrale del Latte di Torino

PRESS RELEASE
CENTRALE DEL LATTE DI TORINO & C. S.P.A.: Scheme presented for nonbinding industrial integration project between Centrale del Latte di Firenze,
Pistoia e Livorno S.p.A. and Centrale del Latte di Torino & C. S.p.A.
Aggregation for the birth of Centrale del Latte d’Italia.
Centrale del Latte d’Italia, with a consolidated turnover of € 200 million, to
rank as the third milk and dairy concern in Italy.
Centrale del Latte di Torino, a company listed on the STAR division of Borsa Italiana, that deals
in the production and sale of fresh milk, dairy products and ultra-fresh products, has presented
today at a press conference in Florence a scheme for a non-binding project for industrial integration
between Centrale del Latte di Firenze, Pistoia e Livorno S.p.A. and Centrale del Latte di Torino & C.
S.p.A. in response to the indications issued by the Board of Directors of Centrale del Latte di Firenze,
Pistoia e Livorno S.p.A. and published on their company internet site.
In regard to the structure of the operation, the project entails a merger of Centrale del Latte di
Firenze, Pistoia e Livorno S.p.A. into Centrale del Latte di Torino & C. S.p.A., on the basis of an
exchange operation to be jointly agreed upon.
Centrale del Latte di Torino is to change its company name to become Centrale del Latte d’Italia, and
it is to remain listed in the STAR division of Borsa Italiana. Concurrently, Centrale del Latte di
Firenze, Pistoia e Livorno is to be constituted in a newco (known as nuova Mukki) which shall keep
the registered office and production plant in Florence.
The new entity is to avail itself of five production plants in Piedmont, Tuscany, Liguria and Veneto. It
shall have a consolidated turnover of about € 200 million and significant market shares in the areas
in which it is operational.
In particular, the operation, proposed by CLT, aims to safeguard and turn to best account the
production facilities and agro-food supply chain of the Mugello area by maintaining reliance on
supplies from local farmers.
The aggregation shall also maintain the legal autonomy (and autonomy also from the corporate and
managerial standpoints) of Centrale del Latte di Firenze and the “Mukki” brand, continuity of current
management, and safeguards as to employment at current levels.
The aggregation means CL Firenze is automatically listed on the Borsa, enabling the selling of
securities on the basis of various and specific needs of the individual partners and a sufficient cash
flow for shareholders through yearly distribution of dividends. Furthermore, listing shall enable
participation as shareholders of local consumers and producers and shall facilitate access to equity
and debt resources in order to fund, in the event, further opportunities for aggregation.
Lastly, through integration, synergic relations can be established for commercial and industrial
activities, thanks to extension of distribution zones for the products, greater bargaining power in
dealings with customers and suppliers, and possibilities for expansion of export activities targeting
not only China, where both concerns are already present, but also other potential markets.
“The project that we propose for the partners at Centrale del Latte di Firenze is part of a broader
growth strategy for external lines, which has always been a distinctive feature of our Group”, said
Luigi Luzzati, Chairman of Centrale del Latte di Torino & C. S.p.A. “The operation”, he added, “aims
to create an inter-regional pole specialised in production and sale of milk-dairy products that brings
together locally strong concerns and brands, sharing the key values of quality, safety and local
identity”.
Centrale del Latte di Torino & C. S.p.A. – a company listed on the STAR division of Borsa
Italiana – has been operational since 1950. It deals in the production and sale of fresh milk, milk
products and ultra-fresh products. At a consolidated level the Centrale del Latte di Torino Group
recorded total consolidated revenue of € 102.4 million, EBITDA of € 5.7 million and EBIT of €
2.5 million at 31/12/2014.
Contacts:
Barabino & Partners
Donata Astengo
Tel. 010.272.50.48
Mob. 349.77.25.787
e-mail: [email protected]
The press release is also available on the website www.barabino.it, where it may be downloaded from the
“Breaking News” section.
In addition, all the documentation regarding the company (press kit, previous press releases, photographic
material, etc.) is available in the section "Online Press Office” of the website.
Florence, 23 February 2015

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