EBRD invests in Turkish Meykar frozen drinks producer

NewsSouth-East European INDUSTRIAL Мarket - issue 2/2011

The EBRD is making a €1.4 million investment in Meykar, one of Turkey’s leading private manufacturers and distributors of frozen beverages to expand the company’s capacities and product range.The two-tranche financing is in the form of a convertible loan of €0.7 million that has already been disbursed and a planned €0.7 million equity injection that will come into effect as the company implements its business development plan.
The EBRD’s funds will be used to finance the purchase and installation of new equipment lines. The improvements will increase Meykar’s production capacity and distribution network across Turkey.
Meykar has operated on the Turkish market since 1997, specialising in producing frozen natural juice-based and non-carbonated beverages and smoothies. Meykar owns Buzlas, Granita and Frio brands. The company has developed an extensive distribution network which covers schools, hotel chains, supermarkets and shopping centres throughout Turkey and other countries.
“We are honoured to partner with such a prestigious institution as the EBRD. Over the past few years, our commitment to innovation has strengthened our leadership in the frozen beverages sector. With the help of the EBRD’s investment, we will bring new high-quality products to Meykar’s customers,” Baran Fidanboy, Meykar’s CEO, said.