The Italian producer of mineral water Ferrarelle, backed by funding from the Italian investment agency Invitalia, is planning to invest €34.1m in its plant in Riardo (Caserta), Southern Italy.
Invitalia, the Rome-based agency for inward investment promotion and enterprise development, is providing €25.5 m in funding for the project, which will upgrade the plant in order to reduce operating costs. Invitalia and Ferrarelle signed a development agreement on Tuesday January 15th, according to Invitalia’s statement.
Ferrarelle, according to the company website, is the fourth-largest producer in the mineral water sector, with a market share of over 8% in terms of volume. Ferrarelle, the famous natural sparkling water brand, it is sold in 40 countries alongside Natìa (still water brand), focusing in particular on the USA and the UK.
In January 2005, LGR Holding bought Italaquae from the French group Danone, acquiring in this way ownership of mineral water’s brands: Ferrarelle, Santagata, Natìa, Boario, along with becoming the exclusive distributor for Italy of mineral water brand Evian. Carlo Pontecorvo is the Chairman and CEO of Ferrarelle and LGR Holding. In 2012, the company purchased the brand Vitasnella.
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