Citruma secures a Euro-denominated mezzanine loan from the European Bank

  • Date: February 2014
  • Exclusive Financial Advisor: Ascent Capital Partners
  • Legal Advisor: Norton Rose Fullbright

Transaction highlights

  • In February 2014, Citruma, one of Morocco’s leading juice producers operating under the brand « Marrakech », secured a Euro-denominated mezzanine loan from the European Bank for Reconstruction and Development (EBRD).
  • The loan was part of an ambitious investment program launched by Citruma to support its expansion strategy and fund its working capital needs. Proceeds to be used to (i) acquire modern equipment, including new production lines, and (ii) expand the product range of the “Marrakech” brand and enhance its distribution capabilities.
  • This transaction represents the first mezzanine investment by EBRD in the southern and eastern Mediterranean (SEMED) region.
  • Ascent Capital Partners acted as exclusive financial advisor to Citruma on this financing transaction.

Company overview

Using its agricultural, industrial, and marketing expertise, a consortium led by Groupe Delassus launched Citruma in 2006, following the acquisition of a Kenitra-based juice production facility and the popular juice brand “Marrakech”. Since the acquisition, Citruma’s management has successfully turned around the business, positioning the company as a leading player in the Moroccan juice market.

Citruma is currently one of the largest producers of juices and concentrated citrus in Morocco, with an annual production of over 12 million liters and a staff of over 200 employees.