Sosagrin-IBS

active

The proposed investment is a senior debt financing of up to EUR 10 million to finance the expansion of Société Sénégalaise Agro-Industrielle (Sosagrin) the leading Dijon mustard company in Senegal/West Africa; and, Industrie des Boissons du Sénégal (IBS), a soft drink and juice company.  Hereafter, these two companies are referred to the Sifaka Group.  The project includes: (i) acquiring and building a new greenfield production site; (ii) implementing a recycling program for cleaning and reconditioning used glass mustard jars; (iii) expanding installed capacity; and (iii) working capital requirements. The 27,000 m2 new project site, where all operations will be relocated, is situated in Diamniadio, about 30 minutes from Dakar. The site is in an industrial setting that will be acquired through a willing-buyer willing-seller transaction. There are no communities living in the vicinity of the site; and neither economic nor physical displacement will occur due to this land transaction.