EIB grants €40m loan to Puratos

The European Investment Bank (EIB) has granted a seven-year loan of €40m to Puratos, which offers a wide range of bakery, patisserie and chocolate products.

Puratos intends to use the amount for its R&D programme in the areas of nutrition, food processing, shelf life extension and food ingredients.

R&D activities will specificially be carried out in the development of new fermentation-based products and nutritious functional ingredients for the bakery, patisserie and chocolate sectors.

Founded in Brussels in 1919, Puratos is active in more than 100 countries and employs 7,000 people across its global operations, including 800 R&D researchers and technical advisors.

The family owned group invests 2.5% of its revenues in R&D, and these activities are primarily conducted at its main research centre in Groot-Bijgaarden near Brussels, Belgium.

Puratos CEO Daniel Malcorps said: "As a visionary leader, Puratos has developed ambitious R&D programmes over the years to enhance the quality, the taste and the nutritional value of its products according to the evolving needs and expectations of consumers and customers.

"With this loan, the EIB has become a knowledgeable partner in Puratos’ financing strategy, stimulating the Group’s ambitious R&D activities, especially in Europe.

"It will therefore open new opportunities for Puratos such as the further development of our product offer, the international growth of the business and the reinforcement of our pioneer role in the sector."

EIB vice-president Van Ballekom said: "Puratos is a fine example of the pioneering business fabric that Belgium is made of.

"This operation is all the more important since it will be sustaining home-grown innovation that is world-leading in its sector.

"This investment is moreover an example of our increased support to agrifood companies in Europe, with agriculture being a key sector for the EIB."

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Image: Puratos will invest the EIB loan in R&D activities. Photo: courtesy of Puratos Group.