Podravka Seeks International Growth With EBRD Loan
Croatian food, beverages and pharmaceutical producer Podravka has signed a six-year €123 million syndicated loan with the EBRD and four business banks.
The funds are intended for refinancing of existing loan liabilities and for further capital investments and possible acquisitions.
With this new financial deal, Podravka strengthens its financial position and creates preconditions for further growth on international market.
Two years ago, the EBRD provided a €73.4 million loan to Podravka to support the company’s medium-term development and to increase standards in sustainable supply chain management.
Podravka has a strong presence in the Western Balkans, Central Europe and Russia. Its “Vegeta” brand is an internationally recognised food seasoning that is sold in 40 countries.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.