7 Sep 2021
EUR 49.73 million
|Date of agreement:||5 Aug 2021|
|Amount in EUR:||EUR 15 million|
|NACE sector / loan type:||Manufacture of food products and beverages|
NIB provides this loan to co-finance new food production and logistics capacity in Kerava and Pietarsaari, Finland.
Snellman is a fast-growing mid-cap company in the food (meat) production industry with estimated growth of more than 20% in the years 2020-2022.
The loan to Snellman is allocated under NIB’s Mid-Cap Corporate Lending Facility. NIB’s loan will enable the company to continue to grow by financing its long-term capital needs. At the same time, the loan will foster productivity in a competitive segment of the market.
Founded in 1951 in Pietarsaari, located in the Ostrobothnia region of Finland, Snellman is a family business with almost 1700 employees.
The loan is line with NIB’s goal to provide financing opportunities to small and medium-sized enterprises (SMEs) and mid-cap companies in its member countries.
Snellman has sustainability and environment considerations embedded in its business approach and has made several changes over the years to reduce its environmental footprint. The company has completed projects within energy efficiency and renewable energy to reduce its climate impact.