The European Bank for Reconstruction and Development (EBRD) announced that it agreed to the terms of a €5mn loan extended by the bank to the Romanian FMCG group Aquila along with an option to buy shares of up to another €5mn from the group's founders, Catalin Vasile and Alin Dociu.
The financing package thus amounts to €10mn. The proceeds from the Loan will enable Aquila to finance the expansion of its portfolio of brands (currently including ‘gradena’ refrigerated vegetables and ‘yachtis’ refrigerated fish and seafood), new warehouse automation, a new ERP system, as well as other working capital and capital expenditures needs, the EBRD said in a press release.
These investments will improve the reach of Aquila's own brands, as well as improve warehouse productivity and help the company enhance its digitalisation.
Aquila Part Prod Com (Aquila), is the largest FMCG distributor in Romania and Moldova, delivering to 67,000 selling points. It operates a network of 14 distribution centres and a fleet of over 1,600 vehicles. The company’s turnover reached €370mn in 2020, according to Ziarul Financiar daily.
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