EIB Signs €40 Million Loan Agreement with Puratos

19 Feb 2016

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19 Feb 2016 --- The loan contract between EIB and Puratos is expected to be a reliable source of financing for Puratos' ambitious R&D program, aiming to ensure the development of new nutritional components. This will foster innovation and reinforce Puratos' pioneer role in the sector for at least seven years.

R&D at the core
Originally founded in Brussels in 1919, Puratos is active in over 100 countries and employs approximately 7.000 people globally – including 800 R&D researchers and technical advisors. The family-owned group invests 2.5% of its revenues in R&D, which has always played a key role at Puratos starting in the 1960’s with the differentiation of ingredients for bakery. Over the last years Puratos obtained substantial results with its R&D programs, such as leveraging the intrinsic qualities of natural raw materials. Recent developments are the use of fermentation technology and functionalizing fruit fractions obtained through minimal processing. The R&D activities are predominantly carried out in the main research center of Puratos located in Groot-Bijgaarden near Brussels, Belgium.

Daniel Malcorps, CEO of Puratos, declares: “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.”

A loan reflecting Puratos’ ambition and commitment
The EIB loan will finance Puratos’ RDI program in the areas of nutrition, food processing, shelf life extension and improved food ingredients. More specifically, the R&D activities that will be carried out will ensure the development of new fermentation based products and tasty, nutritious functional ingredients for the bakery, patisserie and chocolate sector. This operation is the second loan in favor of the Group and is the continuation of the RDI program carried out in 2012-2015. EIB Vice-President van Ballekom commented on the signing saying: “Puratos is a new 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. To ll the innovation gap we currently see compared to other continents, companies like Puratos are on the forefront and deserve our full support. This investment is moreover an example of our increased support to agrifood companies in Europe, with agriculture being a key sector for the EIB.”