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Tomorrow Cibus Connecting after the agreement between Milan and Parma

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Tomorrow Cibus Connecting after the agreement between Milan and Parma

Domani al via Cibus Connecting Italy

Five hundred exhibiting companies, over a thousand brands, 1,300 top buyers and 20 thousand visitors expected from more than 90 countries. These are the main numbers of the new edition of Cibus Connecting Italy, which returns to the scene a Parma on 29 and 30 March. There are four special areas in the hall: fresh fruit and vegetables; plant-based functional ingredients; nutraceuticals and sports integration; ingredients and technological solutions for ice cream and pastry. In addition, waiting for operators, over 500 new products and a selection of 100 references physically exhibited in the Innovation Corner.

The fair is also the time to take stock of the food & beverage tricolore: in the first 11 months of 2022 exports increased by 16% compared to 2021 and exceeded i 54 billion euros. In particular, food products mark +20%, wines and beverages +11%, despite the double-digit inflation rate.

The entry of Fiera Milano into Fiere di Parma is under way

Cibus Connecting Italy it is also the first demonstration after it was signed on 9 March the definitive agreement for the entry of Fiera Milano into the share capital of Fiere di Parma which will lead to a harmonized management of exhibitions dedicated to the agri-food sector or Cibus and Tuttofood. Fiera Milano becomes the second private shareholder of Fiere di Parma, with a stake of 18.5%, after Credit Agricole Italia, which holds 26.44%.

With Parma Union of Industrialists at 6.88%, an agreement is consolidated between the private shareholders who have led the Parma-based company over the last 14 years which, from now on, will manage both exhibitions with the historic partner of Cibus, i.e. Federalimentare. Instead, the public partners – Municipality and Province with 15.97% each e Emilia Romagna region with 4.15% – they extend their pact to the Chamber of Commerce (which holds 9.78%), responding to recent institutional requests.

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Peace made between Cibus and Tuttofood

An industrial operation that brings peace between the two major Italian food events, after 13 years of competition with no holds barred. The Cibus of Parmain fact, falls in even years while the Milanese competitor Allfood in odd years but with the birth of Food Connect, the small format fair that Parma organizes in odd years, the competition had intensified. Hence the need to work on a “system operation” between the two Italian food fairs which would allow for the creation of an internationally competitive fair with giants such as the French Sial and the tedesca Anuga.

In exchange for the contribution of Tuttofood to Fiere di Parma, Milan obtained a stake in the capital of the Emilian trade fair organization close to 18.5%, the value of Tuttofood compared to the total of Fiere di Parma. In detail, the operation envisages a capital increase reserved for the Milanese entity which will appoint a director on the Fiere di Parma board of directors. So the operation will allow Parma to get rid of a competitor like Tuttofood and to create a large global fair, while Cibus will remain in Parma.

For Fiere di Parma 200,000 more visitors

Turning to the numbers, the project plans to bring to Fiere di Parma 200,000 more visitors a year, 10 million more annual revenue e 40 million extra annual induced for the territory. Furthermore, for the trade fair organization, in the most prudent scenario, the operation would already lead to 2023 revenues from 36 to 50 million with a leap of over 56 million in 2026. Ebitda, even in the worst-case scenario, will double compared to that of the last two years with obvious industrial benefits for shareholders.

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At the governance level, three conditions have been set for the agreement. And that is that no one will be able to move the Parma headquarters, no one will be able to amend the statute in an extraordinary shareholders’ meeting if they do not have 85% of the shares, while a series of investments commensurate with cash flows will be mandatory so that Fiere di Parma can continue to grow .

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