FRESH & CO

Location:

Serbia

Project number:

21183

Business sector:

Agribusiness

Notice type:

Private

Environmental category:

B

Target board date:

20 May 2003

Status:

Completed

PSD disclosed:

11 Mar 2003

Project Description

To expand the existing operations of fresh&Co. and further strengthen the company’s brands and its distribution network for fruit juices in Serbia and Montenegro.

Transition Impact

The project is expected to have a strong positive transition impact, especially in terms of:
Demonstration impact: signalling to the Serbian government and other players in the economy that majority privately-owned companies with good corporate practice are able to attract long-term financing in Serbia and Montenegro, as well as indicating to international financiers and banks that Serbia and Montenegro hold interesting investment opportunities;
Backward linkages: the company provides local farmers with regular sales of their fruit and thereby transfers funds to another sector of the economy; and
Forward linkages and competition: the company provides a good example to other local food companies and retailers of good practice in distribution. The project would also contribute to continued improvement of quality and availability of fruit juices in the market.

The Client

fresh&Co. a.d. is a Serbian joint stock company and the largest producer of fruit juices in Serbia and Montenegro.

EBRD Finance

Equity investment of up to €12.5 million in the company.

Project Cost

€12.5 million.

Environmental Impact

The project is screened B/1, requiring an environmental audit and analysis of the Company’s past and current operations. The Company is operating an environmental management system which has been certified as ISO 14001 compliant. The Bank will review the due diligence documentation required as part of that certification process to assess whether it satisfies the audit and analysis requirements of the Bank. In accordance with Bank policy, the Company will be required to comply with national and European Union or World Bank environment, health and safety standards.

Technical Cooperation

None.

Company Contact

Mr Zivojin Djordjevic, the owner and CEO
Email: zika@fresh.co.yu
 

Business opportunities

For business opportunities or procurement, contact the client company.

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.