RO gourmet dairy producer Artesana gets financing from CEC Bank for EUR 5 mln new factory

Romanian entrepreneurial business Artesana, a major local gourmet dairy producer, secured a RON 13.5 mln (EUR 2.7 mln) loan from the state-owned bank CEC, the company announced. CEC also provides a bridge loan worth EUR 2.3 mln for the period until the state aid with the same value is disbursed.

The financing will be used for building the new factory and buying modern equipment.

Artesana consolidated its shareholding base by the participation of ROCA investment fund, which owns 20% of the business since the end of last year.

"We remain faithful to the Artesana mission to offer minimally processed artisanal dairy products, made from whole milk, not homogenized and pasteurized at low temperature, which preserves the nutritional qualities of milk," said Alina and Daniel Donici, the founders of Artesana.

The company ended 2020 with a turnover of about EUR 3.7 mln, up 21% from 2019. The company has expanded its distribution area to over 700 modern retail stores, as well as local chains and specialty grocery stores.

(Photo courtesy of the company)