COFIDES will help Masdeu, a company that specialises in producing and selling pastry products, to scale up its production plant in France.
COFIDES has granted a co-investment loan of €785,000, drawn from the Fund for SME Foreign Investment Operations (FONPYME), to the company behind the project, Mariebel S.A.S.U., to allow it to expand its range of products and increase output at its plant in Nantes, France. Masdeu bought French company Mariebel in 2016 and through this project hopes to continue growing and strengthening its position in this country.
The project will benefit from the COFIDES Impact program, which promotes investment projects that have a positive impact on the Sustainable Development Goals (SDGs). This program awards a bonus through the variable sustainability component of the loan price, linking it to the fulfilment of specific sustainable indicators. In this case, the loan price bonus will be linked to calculation and reduction of the company’s carbon footprint.
The corporate director of the COFIDES Investment Department, Miguel Ángel Ladero, has emphasised Masdeu’s solid growth in recent years: “the internationalisation strategy has driven the company’s growth, allowing it to innovate and giving it a competitive edge”.
This loan is a big step towards fulfilment of SDG 5, for gender equality and SDG ODS 8, for decent work and economic growth.
ABOUT MASDEU
Especialitats M.Masdeu is an SME with headquarters in Barcelona, specialising in producing and selling a wide range of food bases and shells. Its products are mainly targeted at hotels and restaurants and the catering industry. It employs 72 workers and operates in 32 countries.
ABOUT COFIDES
COFIDES is a state-owned enterprise specialized in the management of State funds that provide medium- and long-term financing for private investments linked to different public policy purposes. COFIDES directly manages funds aimed at supporting the internationalization of Spanish firms, strengthening the solvency of companies severely affected by the COVID-19 pandemic, to attract foreign direct investment into Spain through co-investment deals and to contribute to the growth of the impact investment ecosystem in Spain. In addition, COFIDES supports the management of the financial cooperation portfolio of the Spanish Agency for International Development Cooperation, promoting sustainable development in emerging economies and developing countries. In the ownership structure of the Company, the Spanish State holds 53% of the equity. The remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).
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