IFC Backs 100% Family Owned Dairy Firm Alqueria
Rounding out the seven newest projects announced by IFC in Colombia is financing for Alqueria, the third largest dairy products company in the country.
The IFC facility is a mix of debt and equity:
an amortizing A-Loan of up to $15 million and preferred shares of up to $5.0 million in favor of Alqueria. The Investment will help the Company implement its 2010 – 2012 investment program, involving: (i) expanding production capacity across plants; (ii) incurring capex aimed at gaining efficiencies and cost reduction; and (iii) increasing/generating incremental working capital.
Alqueria is 100% owned by the Cavelier family, founded in 1959 by Mr. Jorge Cavelier. With a production capacity of 317 million litersper year, Alqueria operates 3 production plants in the 3 main cities of Colombia: Cajica (near Bogotá), Cali and Medellin.