Intesa Sanpaolo finances the development of the Ancorotti Group and Icr

The Ancorotti Group's new factory in partnership with EuroItalia dedicated to the production of perfumes for third parties was inaugurated a fortnight ago in the former Olivetti industrial area in Crema, right next to the headquarters of its 'big sister' Ancorotti Cosmetics. With the newly founded Ancorotti Perfumes the group expands its offer in make-up and skincare.

The plant - which covers 5,000 square metres and is able to process 220,000 litres of perfume at a time, with a production capacity of 50 million pieces per year - will create around 100 jobs. The new hires will bring the group to a total of almost 600 employees and collaborators.

"With more than EUR 100 million of exports to more than 50 countries, we can say that we have contributed to bringing made-in-Italy make-up to the top of the world," comments Renato Ancorotti, president of the Ancorotti Group. "Today we are ready to replicate this success in the perfumery sector as well. With Ancorotti Perfumes, we are committed to making Italian excellence in perfumes a global benchmark, proving once again that we represent quality, innovation and expertise on the international cosmetics scene". He adds: "I began my journey in the world of cosmetics forty years ago; before Ancorotti Perfumes, I founded two other companies, leading them both to success. I had the honour of representing the industry as president of Cosmetica Italia, the national association of cosmetics companies, and today I continue this commitment in the Senate, with my work in the 9th Commission, which plays a fundamental role in the development of our country. Ancorotti Perfumes is not simply a new company, but a new piece of a larger project, which aims to make Made in Italy cosmetics a global reference point in all product categories'.

The opening of the production site was also attended by the Lombardy Region, which recently announced its intention to establish the Cosmetics Cluster, highlighting the strategic importance of the cosmetics sector as a driver of growth. "When a Lombard entrepreneur opens a new plant in Lombardy, for us it is a moment of celebration and joy because it means economic and employment opportunities for our territory,' commented Guido Guidesi, Councillor for Economic Development. 'Moreover, in this case, it is done by contributing to the reactivation of an industrial area that, thanks to the far-sightedness and concreteness of Cremasque, is now an innovative district. The Region is and always will be at the side of those in Lombardy who want to take up their challenge. We offer Ancorotti's example to the new generations by telling them that they can win their challenge and achieve entrepreneurial success'.

The investment plan and the opening of the new factory were supported by the EUR 10 million loan finalised with Intesa Sanpaolo with SACE's Future Guarantee. So was the operation with ICR - Industrie Cosmetiche Riunite, to which Intesa Sanpaolo provided a 10 million euro loan with SACE Future Guarantee to support a major investment plan in research and development and to expand the production lines. ICR, excellence in Made in Italy, is a third-generation family business that has been producing, creating and carrying out development and logistics activities for fragrances and cosmetics for third parties for 50 years, worldwide, for a wide portfolio of prestigious brands. The company has always been an advocate and supporter of Made in Italy, which not only represents a choice of excellence, but also a commitment to its community, which it has been pursuing for years also in the three ESG guidelines. The transaction with Intesa Sanpaolo, which is also the result of collaboration with SACE, contributes to consolidating ICR's investment plan to support the expansion of highly automated production and packaging lines, the R&D and microbiology laboratory, and the improvement of the integrated management of company processes.