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Apr 28, 2016 12:45 EST

IFC provides $40 million to support Bauducco’s expansion plan and the growth of the food sector in Brazil

iCrowdNewswire - Apr 28, 2016

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São Paulo — IFC, a member of the World Bank Group, will provide a US$40 million loan to Pandurata Alimentos Ltda, best known for its brand Bauducco, one of the leading baked products companies in Brazil.

By supporting Bauducco’s investment program, IFC will help promote the growth of the Brazilian food sector, which is critical for the country’s economic activity, trade balance and employment generation.

Bauducco is currently carrying out an investment program that includes the capacity expansion and modernization of its plants. IFC’s eight-year financing will help Bauducco to accomplish that plan, investing in new technologies and innovative products, and to strengthen its capital structure. It will also support the growth of the food and beverages sector, which accounts for 9% of Brazil’s Gross Domestic Product (GDP) and employs over 1.7 million people.

“We have a long-standing partnership with IFC that dates back to 2007,”
said Leandro Gomes, Bauducco CFO. “This investment will help us implement the expansion program planned for the next years under competitive financial conditions, and represents a vote of confidence in our strategy and capacity to grow despite a challenging macroeconomic situation.”

“The agribusiness sector, with its entire supply chain, is a strategic priority for IFC because of its potential for promoting development and poverty reduction”, said Luiz Daniel de Campos, Principal Investment
Officer, Agribusiness Department, IFC Brazil. “This is our third
transaction with Bauducco; we are pleased to continue to support the company’s investment plans, which will contribute to the creation of skilled jobs, and expand access to quality food products for the Brazilian population.

IFC promotes inclusive economic development in agribusiness by supporting its entire value chain, which includes Food & Beverage businesses. In the fiscal year ended June 2015, IFC invested $3.2 billion across the agribusiness supply chain – from farm to retail – to help boost production, increase liquidity, improve logistics and distribution, and expand access to credit for small farmers. In that same fiscal year, IFC’s overall agribusiness portfolio stood at $5.2 billion. In Brazil, IFC invested $530 million in the agribusiness and food sector in the last five years.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

About Bauducco
Established in 1952, Bauducco is one of the leading baked products companies in Brazil. It is the world’s largest producer of panettones (Christmas cake), the largest producer of toasts and wafers in the Americas and the largest producer of impulse buying products in Brazil. The Company produces products under 3 complementary brands (Bauducco, Visconti and Tommy) to target the entire spectrum of Brazilian consumers.

 

 

Contact Information:

In São Paulo:
Patricia Carvalho
Phone: (5511) 5185-6873
E-mail: [email protected]

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