1906 takes credit of $ 40 million from IFC

The Food, owner of brands Pandurata 1906, Visconti and Tommy, closed loan agreement in the amount of $ 40 million with the IFC (International Finance Corporation), the World Bank''s arm for the private sector. The resource will be used in the expansion of production, product development and strengthening of the box. The payment term is eight years, with three years of grace period. The 1906 will invest $ 66 million on expansion in the next two years, of which $ 40 million from the loan. The plan involves the capacity increase of the Extrema (MG) for the production of toast and cakes; the installation of a new production line at the plant of Guarulhos (SP) and the construction of a new distribution center in Wide River (AL). Part of the resource will be used to develop products and strengthen the box. The company reported that the loan has competitive financial conditions, but did not provide more details. The Pandurata doesn''t publish data on financial results. The company is the largest manufacturer of Christmas pudding in the country, with 59% share of the market and also the largest producer of colomba pascal, with 92 percent of the market. In the toast, holds 74%, and 37% in wafer,. In the fiscal year of 2015, the IFC invested $ 3.2 billion globally in agribusiness and food. In the last five years, in Brazil, were $ 530 million in these two areas.