Puratos signs loan agreement with EIB

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Puratos, who offers a range of bakery, patisserie and chocolate products, has signed a loan deal of €40 million for seven years with the European Investment Bank (EIB). The loan will allow Puratos to sustain its key R&D activities, fostering innovation and reinforcing its leading position in a competitive market.

Daniel Malcorps, CEO of Puratos, says, “As a visionary leader, Puratos has developed ambitious R&D programmes over the years to enhance the quality, the taste and the nutritional value of its products according to the evolving needs and expectations of consumers and customers. With this loan, the EIB has become a knowledgeable partner in Puratos’ financing strategy, stimulating the group’s R&D activities, especially in Europe.

“It will therefore open new opportunities for Puratos such as the further development of our product offer, the international growth of the business and the reinforcement of our pioneer role in the sector.”

EIB vice president Van Ballekom adds, Puratos is a fine example of the pioneering business fabric that Belgium is made of. This operation is all the more important since it will be sustaining home-grown innovation that is world-leading in its sector. To fill the innovation gap we currently see compared to other continents, companies like Puratos are on the forefront and deserve our full support. This investment is moreover an example of our increased support to agrifood companies in Europe, with agriculture being a key sector for the EIB.”

Source:  confectioneryproduction.com