Madrid, July 10, 2017 - COFIDES will support the SUPRACAFÉ, a company dedicated to the production and distribution of gourmet coffee, with €300,000 for the extension of a coffee processing plant in its Colombian subsidiary.
The financing provided by COFIDES is structured through its own resources through a co-investment instrument to the project company, SUPRACAFÉ Colombia SA. Together with the contribution made by the promoter, the total amount of the operation is €600,000.
SUPRACAFÉ purchases green coffee mainly in Colombia and performs the roasting, packaging and distribution processes in the premises of its property in Móstoles (Madrid). It commercialises the product with its own brand in different varieties and formats and supplies its customers complementary products such as sugar, tea or coffee. The company currently employs 25 permanent employees, but in times of sowing and harvesting the number can rise up to 200.
In 2008, the company established SUPRACAFÉ Colombia with the aim of integrating the value chain to produce high quality coffees and to apply R&D and innovation to its processes in the cultivation and processing of the different coffee varieties.
For Ricardo Oteros, SUPRACAFE chairman and CEO, this investment, supported by COFIDES, will provide an important boost to the development of its strategic plan, based on the creation of an inclusive and sustainable business model through which RD & I will lead SUPRACAFE to creating the first coffee technology park TECNICAFE, with an open and collaborative innovation model in which the producers and institutions of the Cauca region will take part, as well as some high-tech companies such as the Spanish MULTISCAN.
COFIDES chairman, Salvador Marín stressed that operations such as SUPRACAFÉ in Colombia show that financing projects of Spanish SMEs is a COFIDES priority. Likewise he stated, "Supracafé is already settled in Colombia and our goal is to continue contributing to the expansion of our companies, in order to consolidate their activity and business at an international level".
COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat for Trade, within The Ministry of Economy, Industry and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF (Development Bank of Latin America).