Fairs, green light for the integration between Milan and Parma

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The board of directors of Fiera Milano has given the go-ahead to finalize the strategic operation with Fiere di Parma to create a common European exhibition platform in the agro-food sector. As already communicated, the transaction will be carried out through the subscription of a capital increase of Fiere di Parma reserved for Fiera Milano, to be paid up through the contribution of the Fiera Milano business branch relating to the “Tuttofood” event, for a countervalue of approximately 16.5 million euros.

With the positive resolutions, before the Shareholders’ Meeting of Fiere di Parma on 7 March and subsequently that of the Board of Directors of Fiera Milano on 9, the agreement was definitively signed between the two companies for a harmonized management of their exhibitions dedicated to the agri-food sector or Cibus and Tuttofood.

Fiera Milano will initially hold an 18.5% stake in the share capital of Fiere di Parma. The transaction also envisages that Fiera Milano participates in the governance of Fiere di Parma by supporting private shareholders – Credit Agricole Italia and Unione Parmense degli Industriali – and public shareholders – the Municipality and Province of Parma, the Chamber of Commerce of Parma and the Emilia-Romagna Region – in enhancing the execution of the industrial plan of the exhibitions.

«Our vision is ambitious: to create a system of Italian fairs, coordinated with each other, which maintains attention to the territory but becomes stronger and more attractive for foreign operators. It is time to ensure that our industrial supply chains find their home in Italy and that they are less and less encouraged to turn to foreign trade fairs. The partnership with Fiere di Parma fits into this vision, aiming to strengthen the joint international positioning in a strategic supply chain such as that of agri-food, creating a trade fair able to compete with the main European trade fairs, setting itself the objective of bring an ever-increasing number of international exhibitors and visitors to “Tuttofood powered by Cibus”, commented the managing director and general manager of Fiera Milano, Luca Palermo.

«Although the creation of a national champion in the agro-food exhibition sector is the main aim of the project, the possibility of creating further synergies through the integration and joint coordination of the non-food event portfolios of Fiera Milano and Fiere di Parma, continuing our ambition to create a system with the aim of bringing Made in Italy to the world», added Palermo.