Kortimed Raises €5M Minibond for Sustainable Logistics

Livorno-based food transport specialist Kortimed has successfully raised €5 million through a minibond issuance, bolstering its strategic expansion plans. The financing, fully subscribed by Cassa Depositi e Prestiti (CDP) and backed by SACE's strategic guarantee, is earmarked for significant investments in digitalization, ecological transition initiatives, and overall operational innovation. This move underscores the growing importance of sustainable logistics within the European food supply chain.

The newly acquired capital will fuel Kortimed's industrial roadmap for 2026-2028. A key focus is the modernization of its fleet and the enhancement of its intermodal transport capabilities, integrating road, rail, and sea freight. The company emphasizes that this multi-modal approach is crucial for substantially reducing its carbon footprint and improving its competitive edge across European and Mediterranean markets. The food logistics sector, a critical component of global trade, is increasingly prioritizing emissions reduction, with intermodal solutions offering a viable path forward.

Founded in 2005 as an evolution of Marco Corti Autotrasporti (established in 1982), Kortimed has carved a niche in the specialized transport of liquid food products such as oils, wine, milk, and juices. The company's strategic expansion into Spain in 1998, a key market for edible oils, laid the groundwork for its current integrated logistics model. Today, Kortimed operates extensively across 27 countries in Europe and North Africa, leveraging its direct presence in Spain and a long-standing partnership with the Grimaldi Group.

Financially, the Tuscan group reported robust performance in 2024, with revenues reaching approximately €124 million and an EBITDA exceeding €12 million. This financial strength, coupled with a net debt of €29.5 million, positions Kortimed favorably for its growth trajectory. The minibond's variable coupon, tied to the 6-month Euribor, offers flexibility in managing financing costs.

Equita served as the arranger for this significant transaction. Legal counsel for CDP was provided by Gianni & Origoni, with BPER Banca acting as the paying agent and GLAS as the calculation agent. This collaborative effort highlights the structured finance ecosystem supporting Italian businesses in their pursuit of strategic development and sustainability goals.

This funding round for Kortimed aligns with broader market trends in the logistics and transportation sector, where companies are increasingly seeking capital to invest in greener technologies and more efficient operational models. The €5 million minibond represents a strategic injection of funds, enabling Kortimed to enhance its service offerings and solidify its position as a leader in sustainable food logistics.