BCR, BRD provide a RON 23 M club deal facility to Caroli Foods Group to expand production

Caroli Foods Group, one of Romania’s leading producer of packaged meat products, and recently bought by the Mexico-based food group Sigma Alimentos, gets EUR 23 million through a syndicated loan from BCR and BRD for the extension of production facilities, the acquisition of new equipment and the financing of working capital, a press release informs.

BCR and BRD have equal shares in the club-deal financing, BCR acting as Coordinating Mandated Lead Arranger, Documentation Agent and BRD – Mandated Lead Arranger and Facility & Security Agent.

The credit facility  has a maturity of 5 years and was granted to expand the Caroli Foods Group’s production facilities and acquire new equipment.

”2017 is a historic year for the Caroli Foods Group due to its takeover by Sigma Alimentos, one of the leading global players in the refrigerated food industry. 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,” Khaled El Solh still staying as Caroli Foods Group CEO.

Nestor Nestor Diculescu Kingston Petersen (NNDKP) acted as legal advisor to the lenders.

Caroli Group grew from a family-operated company to one of the largest employers of the industry, employing over 1,200 people, having its factory in Pitesti and a strong distribution network with a net sales exceeding EUR 100 million in 2016 whereas the net revenue is of EUR 88 million.

Sigma has 69 production facilities in 18 countries, more than 44,000 employees and revenues of USD 5.7 billion. Its product portfolio includes cooked and cured meats, cheese, yogurt and other refrigerated and frozen foods.