Romania

Caroli Foods Group receives a 23 million euros funding

Mergers & Acquisitions

Romanian's leading cold meats producer Caroli Foods Group has just received a 23 million euro loan from Romanian Commercial Bank (BCR) and BRD – Groupe Société Générale (Romanian Development Bank) for the expansion of its production facilities and the acquiring of new equipment.

Posted on Sep 25 ,14:02

 

BCR acts as Coordinating Mandated Lead Arranger and Documentation Agent, and BRD as the Mandated Lead Arranger and Facility & Security Agent. The club deal facility worth 23 million euros was mainly granted to expand the Caroli Foods Group's production facilities and acquire new equipment, and to finance its working capital. Furthermore, the club deal features the risk being distributed in equal shares between the two financial institutions.

"2017 is an important year for the Caroli Foods Group due to the takeover of the company by Sigma Alimentos, one of the world's leading ready-to-eat and preserved meat producers. This change at the shareholder level guarantees that we, Caroli Foods Group, will continue to invest in our brands, technology, and innovation to serve consumers and meet their expectations. We thank BCR and BRD for their trust and support that will make possible for the company to in meet its customers' needs and achieve its goals," said Khaled el Solh, CEO of Caroli Foods Group.

Caroli Foods Group is the leading producer in the Romanian prepared and preserved meat market, both in terms of value and volume, and it is one of the most successful meat processors in South-Eastern Europe.

Starting with September 1st, Caroli Foods Group became part of Sigma Alimentos, which acquired 51% of the company's shares. The Mexican multinational had already owned 49% shares of Caroli Foods.

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