Turkish drinks firm's €1.4m loan for processing kit

- Last updated on GMT

Related tags: Economics, Finance

Turkish frozen drinks company Meykar is to get a €1.4m loan from the European Bank for Reconstruction and Development (EBRD) to buy new processing equipment.

The firm, which has been in operation since 1997, specialises in the manufacturing and distribution of frozen juice-based and non-carbonated beverages and smoothies.

Meykar, which owns the Buzlaş, Granita and Frio brands, has a wide-ranging distribution network both inside Turkey and abroad.

“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,”​ said the bank.

The financing comes in two parts. The first element is a convertible loan of €0.7m that has already been granted, while a second tranche as a €0.7m equity injection that will come into effect as the company implements its business development plan.

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