EBRD continue to support the successful business of Bulgarian energy bar producer
Smart Organic, a leading Bulgarian producer and distributor of organic products, gets a boost from the European Bank for Reconstruction and Development (EBRD) by its extending a EUR 2 million loan.
The Bulgarian energy bar producer is specialized in distribution of organic foods and production of energy-boosting snacks (protein bars). Smart Organic is export oriented - exporting almost 70 per cent of its production. Roobar is Smart Organic’s most successful brand, selling in over 40 countries and across 5 continents.
The EBRD is financing part of the firm’s EUR 3.3 million expansion programme as the company is extending to international markets, consolidating in one location production, packaging operations and storage.
"With its energy-boosting, healthy snacks powering people in over 40 countries, Smart Organic has seen exceptional growth this year and is keen to expand further. Now that the company seeks to boost itself to meet growing demand, the EBRD is delighted to lend a hand. We hope that our investment will help Bulgarian energy bars conquer the world.", said Larisa Manastirli, EBRD Director for Bulgaria.
Yani Dragov, Executive Director of Smart Organic, commented: "We are delighted to cooperate with the EBRD and with their help we will be able to reach our goals for expansion in the years ahead. Investing in the consolidation and extension of our production and administration is a step we had to take. Now we are confident that we can meet the growing demand we face. The quality of our products is another area that will see further improvement due to this investment."
The reason of the help of EBRD to the Bulgarian company was the declared priority of the Bank to support successful companies become more competitive locally and abroad.
In 2016 the EBRD has invested close to EUR 600 million in the Bulgarian economy. In the years ahead, the Bank will aim to keep its level of investment at about EUR 200 million annually in response to local demand, says the bank official message.
To date, the EBRD - one of the largest institutional investors in Bulgaria - has invested over EUR 3.4 billion in more than 230 projects in the country. Some 80 per cent of the Bank’s investments in Bulgaria are in the private sector.
LATEST issue 1/2019