A Turkish producer of dried fruit, nut and seed snack packs, Peyman Kuruyemis will use the investment to build a new production facility and refinancing of a shareholder loan, among other projects.
The new factory will enable the company to launch new products and expand into new markets.
According to the European Bank, the transition impact of this project is expected to be primarily derived from market expansion through backward linkages to local farmers, and transfer and dispersion of skills.
Nutty about Turkey
Peyman Kuruyemis is the second largest producer of dried fruits, nuts and seeds in Turkey. It also manufactures natural fruit bars and coffee.
Its extensive range of snack packs comprise sun-dried apricots, raisins, walnuts, sunflower seeds, pumpkin seeds, salted and roasted chickpeas, sweet almonds, pistachios, hazelnuts, chickpeas, mixed nuts, salted and roasted corns, fried peanuts, and cashew nuts.
Brands include Bahçeden, Dorleo, Çitliyo, Nutzz and the Peyman house brand.
The Istanbul-based company is certified to a number of best practice management systems including ISO 22000, Halal and BRC, and it is currently working on getting its Ecocert and ISO 26000 certifications.
Peymen has a strong distributor network across Turkey, and exports to more than 40 countries worldwide.