Bavaria

completed

The Grupo Empresarial Bavaria (GEB), founded in 1889, is Colombia''s largest beverage company. It produces and distributes beer and non-alcoholic beverages (water, juices, soft-drinks, and malt-drinks) out of manufacturing plants in Colombia, Panama and Ecuador. GEB has approached IFC for assistance with an expansion, modernization and rationalization program. The project includes the following components: (a) modernizing GEB’s Colombian plants in Bogota, Barranquilla, Boyaca, Bucaramanga, and Medellin; (b) expanding its brewery facility in Cali, Colombia; (c) modernizing and rationalizing its facilities in Ecuador (Guayaquil and Quito) and in Panama (Panama City); (d) on-going capital expenditures; (e) reducing redundancies and retraining of employees; (f) upgrading the environment standards at its plants in Colombia (Bogota, Barranquilla, Boyaca, Bucaramanga, and Medellin), Ecuador (Guayaquil and Quito) and Panama (Panama City);and (g) refinancing of maturing debt; and (h) undertaking selective acquisitions in the region.