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Kervan Gida, one of Türkiye’s leading confectionery producers, announced Wednesday that it has signed a €40 million ($46.95 million) loan agreement with the European Bank for Reconstruction and Development (EBRD).
The funds will be used to restructure short-term debt into longer maturities, strengthen working capital, and finance new investment projects, the company stated.
After the announcement, the company's shares listed on Borsa Istanbul rose 8.3% before retreating.
According to a disclosure filed with the Public Disclosure Platform (KAP), the loan will be disbursed in two tranches: €15 million with a three-year maturity and a one-year grace period, and €25 million with a five-year maturity and the same grace period.
Kervan Gida CEO Devrim Kilicoglu stated that the financing would reinforce the company’s balance sheet and support sustainable growth. “This financing will strengthen our financials and allow us to support our targets of sustainable and profitable growth,” he said.
He underlined that predictable cash flow would help the company remain competitive both at home and abroad. "Reducing financing costs in the short and medium term will have a positive effect on profitability," he added. Kilicoglu described financial discipline as "critical for strong growth and a solid financial structure."
A portion of the funds will be allocated to environmentally focused projects. Recalling that the company has previously invested in a solar power plant, which it views as a model for future initiatives, "This financing will enable us to take environmentally sensitive projects further," Kilicoglu said.
Kervan Gida is one of Türkiye’s largest confectionery producers, best known for its "Bebeto" brand of gummy and soft candy products. Founded in 1995, the company has expanded its operations to more than 90 countries, with production facilities in Türkiye, Poland, and Germany.
The company reported ₺7.2 billion ($173.5 million) in consolidated revenue in the first half of 2025, while posting a net loss of ₺288.94 million ($6.96 million).
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