Redcliffe Partners has advised the EBRD on its USD 15 million loan to Ukraine's Agrofusion group to finance the construction of its third tomato processing plant. This expansion will allow Agrofusion to increase its production capability by around 50 percent. Bird & Bird advised the EBRD on matters of English law.
According to Redcliffe Partners, "the new plant will be able to produce about 34,000 tonnes of tomato paste. In addition, by using the loan Agrofusion will introduce a range of high-tech farming improvements, reduce water leakage in irrigation systems, and reduce plastic waste throughout its entire production cycle."
In addition, the firm reports "this transaction is important for Ukraine, as it is a great incentive in the development of green agribusiness solutions. It aligns with EBRD’s support for green businesses, which is aimed at creating well-functioning market economies. Agrofusion, a vertically integrated and family-owned group, will, through its new processing plant, have an opportunity to meet the growing demand for organic food products within Ukraine, and strengthen its export capacities."
Redcliffe’s team advising on this transaction consisted of Managing Partner Olexiy Soshenko, Associate Olesia Mykhailenko, and Junior Associate Anatoliy Doludenko.