The European Bank for Reconstruction and Development (EBRD) is looking to become a minority shareholder in a subsidiary of French dairy group Fromageries Bel.
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The EBRD told just-food today (21 September) that it would look to inject some US$29m into Ukrainian dairy Shostka, which Bel bought in April.
A spokesperson for the EBRD said the bank had secured funding for its investment and was just weeks away from striking a deal.
Bel, whose brands include The Laughing Cow, bought Shostka to boost its presence in Eastern Europe. Ukraine ranks as the region’s second-largest market behind Russia in terms of cheese production volumes.
Shostka is primarily active in the hard and semi-hard cheese segment, where it is a major player with leading brands and a strong premium brand image.
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