The Company was established in 2007 and is an experienced and well-known producer of premium chocolate products in Latvia. Although historically the Company has produced a wide range of chocolate sweets, currently, it is focused on truffles only. Around 65% of all the goods produced by the Company are exported to more than 20 countries worldwide. In addition to branded truffles, the Company provides private label production services as well. Core customers’ base of the Company is formed by reputable and well known international retailers and is well diversified. In 2015 the Company has attracted investment of EUR 1,4 million from BaltCap Venture Investment Fund (hereinafter – BaltCap) to ensure further expansion. To fully settle for raw materials of produced goods for sizeable Costco USA order, the Company is seeking additional financing of EUR 100,000 for 2 month period. Investors are offered 13.8% annual (1.15% monthly) interest with interest payments each month and principal repayment at the end of the term. Execution of Costco order is financed in three tranches – two out of three parts (EUR 100,000 and EUR 150,000) were already issued to the client and have been used to buy materials. All goods for the Costco USA order already have been produced and shipped on the 28th of July. Costco USA is the second biggest retail chain globally and last year the Company has successfully executed a similar order of this customer.  Loan repayment is tied to incoming payments from the execution of Costco order in October 2020. 

 

The Company is an existing client of Capitalia and the current long-term loan has been serviced with an excellent payment discipline.