GRENKE and INTESA SANPAOLO Forge Strategic Alliance in Italy

GRENKE AG, a leader in small-ticket leasing in Europe, has announced a strategic partnership with Italy's largest bank, INTESA SANPAOLO S.p.A. The collaboration aims to expand GRENKE's reach in the Italian market. Under the agreement, INTESA SANPAOLO's subsidiary, Rent ForYou S.p.A., will become part of GRENKE Locazione S.r.L., the Italian subsidiary of GRENKE. In return, INTESA SANPAOLO will acquire a 17% stake in GRENKE Locazione. Additionally, the partnership will leverage INTESA SANPAOLO’s branch network and its 1.2 million business customers.

This alliance, pending regulatory approval, is expected to conclude by the end of Q1 2025. The partnership will not alter GRENKE's business model but aims to enhance competitive positioning and market share. Last year, GRENKE generated over EUR 400 million from the Italian market, and expects double-digit growth in future business.