Belgium: EIB signs loan agreement with Puratos
- Release date: 18 February 2016
- Reference: 2016-045-EN
In their second joint operation, Puratos N.V. and the European Investment Bank (EIB) have signed a loan deal of EUR 40 million. The EIB loan will allow Puratos to sustain its key R&D activities, fostering innovation and reinforcing its leading position in a competitive market.
Originally founded in Brussels in 1919, the family-owned group is a leading international player in the bakery, pastry and chocolate sector. This latest joint operation targets a three-year RDI programme to develop fermentation based products and food ingredients for the bakery, patisserie and chocolate sectors. The activities will predominantly be carried out in the main research centre located near Brussels.
EIB Vice-President Van Ballekom said: “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. Moreover, this investment is an example of our increased support to agrifood companies in Europe, with agriculture being a key sector for the EIB.”
Daniel Malcorps, CEO of Puratos, declared: “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 ambitious 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.”