| Project Detail |
Location:
Romania
Project number:
54830
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
19 Mar 2024
Status:
Approved
PSD disclosed:
05 Apr 2024
IVP Fund I, through the Borrower, New Europe Vending S.a.r.l, recently acquired a majority / controlling shareholding in OFresh in Romania, with ambition to grow it both organically and through (potential) add-on acquisitions in the SEE region. The project will support: (i) through (a committed) Loan Tranche 1, this recent majority-acquisition by IVP Fund I of OFresh; and (ii) through (an initially uncommitted) Loan Tranche 2, potential add-on acquisitions and/or capital investments by the Borrower and/or OFresh (subject to their further assessment).
Project Objectives
By supporting IVPs recent acquisition of OFresh, the project will enable promoting IVPs plans related to: (i) increased market outreach by OFresh, including in its recently new sub-segments (bottle-free water coolers / purifiers, office coffee solution, self-service bistros); (ii) improved productivity and efficiencies of scale in OFresh; and (iii) enhanced governance through the proper functioning of the new Board of OFresh. In parallel, as condition of EBRD financing, the Borrower and OFresh will undertake that new vending machines that will be purchased and acquired by OFresh will have improved EU energy label classification of C or above (which have higher energy efficiency). |
