
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.
“We are very pleased to help Meykar’s management team with this transaction, which underlines our commitment to further develop Turkey’s fast-growing small and medium-sized private business sector. The Bank is an early investor in the company and we will continue providing our support as the company continues its growth,” Michael Davey, EBRD Director for Turkey, said.