CEDAR Premium gets
$14.5 million through FFA
Funds in debt and equity to be used to
reorganize finances and boost exports
Cedar’s Premium Food and Beverage (CEDAR) has closed a $14.5 million financial restructuring package from FFA Private Bank (FFA).
The company manufactures several beverage products including Jalloul, Kazouza, California Garden (juice franchise), Fruit a day, and Fruity King.
“The funds will be used to grow our local and export footprint,” said Hamid Najim, the Chairman of CEDAR. “Our USDA and EU approved organic product range is very much in demand globally,” he said.
The deal consisted of a syndicated investment. It included a $3.2 million increase in capital (in lira) in which FFA has participated directly, a $9.5 million restructuring of the debt, and a $1.8 million unsecured facility. The debt portion carries a four percent interest rate. It allows rebalancing of maturities, a working capital financing, and a new governance structure.
An advisory team will provide support to the company over the next five years.
Cedar’s Premium Food & Beverage SAL, has 70 years of expertise in the beverage sector. Its owners have created the well-known brands ‘Najm’ and ‘PAMPA’. The company operates an advanced industrial facility in Zakroun, with five production lines covering three major segments of fruit juices, carbonated soft drinks, and non-alcoholic malts.
Date Posted: Apr 21, 2020