EBRD lends 10 mln euro to Romanian pharma group Calihory

The loan will be used to finance the expansion and refurbishment of the company’s network and the construction of a new warehouse, the EBRD said in a press release.

"We trust that this cooperation will contribute to the growth of the pharmaceutical value chain in Romania and will help boost the development of an efficient distribution network," EBRD director and regional head for Romania and Bulgaria Matteo Patrone said.

The new warehouse will support the development of the group’s wholesale business which will lead to a diversification of its operations.

The Calihory Group comprises Siepcofar, the third-largest pharmaceutical retailer in Romania operating under the DONA brand, and DONA Logistica, the logistics arm of the Group.

DONA had 284 pharmacies in Romania and revenues of almost 200 million euro as of end-2016.

"We are delighted to cooperate with the EBRD as we continue to expand our storage capacity, to provide profitable trading conditions to our franchise and independent partners, to increase our retail network and to upgrade our DONA pharmacies using the new concept," DONA retail chain president Eugen Banciu said.

The EBRD is a leading institutional investor in Romania and has invested close to 7.5 billion euro in the country to date in almost 400 projects.

($=0.8505 euro)