EIB strengthens cooperation with Maspex Group to support food production efficiency

• The EIB and Maspex have signed a new financing agreement worth €104 million to modernise and increase the energy efficiency of production resources in Maspex Group plants. 

• The investments will contribute to climate action and will be made in cohesion regions in Poland and Romania. 

The European Investment Bank (EIB) is strengthening its long-term partnership with the Maspex Group, one of the leading producers of food and beverages in Central and South-Eastern Europe. A new financing agreement worth €104 million will support the upgrade and modernisation of the Maspex Group’s production facilities and the introduction of innovative logistics solutions. The investments will be made in existing factories in Poland (Wadowice, Łowicz, Lublin, Tymbark, Tychy and Wąsocz Dolny) and Romania (Vălenii de Munte). 

The Maspex Group is continuing to implement its sustainable development programme by making strategic investments in technologically advanced solutions in the fields of energy and raw material efficiency, increasing the efficiency of production and logistics. The loan will also cover investments in photovoltaic panels and heat pumps. The planned projects will be implemented in regions covered by the EU cohesion policy. They will also support climate action and strengthen the group’s competitiveness.

The current operation is a continuation of the successful cooperation between the EIB and the Maspex Group, under which two agreements were signed in 2016 and 2019 worth a total of €107 million.

In 2022, green finance made up 58% of the EIB’s total financing volume, thus meeting its commitment as the EU climate bank to devote at least 50% of its resources to climate action, well ahead of its 2025 target. Green financing for Poland jumped from 42% of total financing for the country in 2021 to 49% in 2022.

EIB Vice-President Teresa Czerwińska said: “The EIB is proud to strengthen its partnership with the Maspex Group, one of the leading food producers in Europe. Investing in modern technologies that contribute to climate action is one of the top priorities right now and the EIB, as the EU climate bank, is devoted to supporting such investment.”

Rafał Gruszeczka, chief financial officer of the Maspex Group, said: “The Maspex Group is continuing its programme of strategic investments in its home market of Poland, as well as in Romania, its second biggest market. The new EIB financing will cover investments in 2021-2024 in Wadowice, Łowicz, Lublin, Tymbark, Tychy and Wąsocz Dolny in Poland and in Vălenii de Munte in Romania. All these projects will enable us to produce more renewable energy and increase the energy efficiency of our production plants. They will also have environmental benefits such as the reduction of CO2 emissions. This would not have been achieved to the same extent without the Bank’s support.”

It should be noted that, the European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The European Investment Bank is active in some 160 countries and is the world’s largest multilateral lender for climate action projects. Ensuring a just transition for all is one of the EIB Group’s four overarching objectives in its Climate Bank Roadmap 2025. The EIB’s ambition is to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and align all its new operations with the goals and principles of the Paris Agreement.

Maspex Group is the largest private company in the food industry in Poland and one of the largest in Central and Eastern Europe. It is one of the market leaders for juices, nectars and beverages in Poland, the Czech Republic, Slovakia and Romania and the leading manufacturer in Hungary, Bulgaria, Lithuania and Latvia. It is a leader in the Romanian water market, and in the Polish market for pasta, jams and sauces. It is a leading manufacturer of ketchup, ready meals and vegetable preserves in Poland and instant products in Central and Eastern Europe. Maspex is the market leader for vodka and the largest importer of foreign spirits in Poland (Grant’s, Glenfiddich and Tullamore D.E.W., Metaxa, Jägermeister, Cointreau, Campari, Aperol, Remy Martin, Carlo Rossi and Barefoot). Maspex’s main brands are Tymbark, Kubuś, Tarczyn, Caprio, Nestea, Dr Witt, Tiger, Alcalia, Lubella, Łowicz, Krakus, Kotlin, Włocławek, Puchatek, Ekland, DecoMorreno and Cremona. Plusssz, Żubrówka, Soplica, Absolwent and Bols are clear leaders in their categories, trusted by consumers not only in Poland, but also in other countries in Central and Eastern Europe. Maspex products are exported to over 60 countries around the world.

Cassien Tribunal Aungane, Editor