JSC Foodmart
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
JSC Foodmart is better know as SPAR Georgia and is in the process of expanding its network of retail convenience stores in Georgia. SPAR is a Dutch retail chain operating over 12,000 stores in 35 countries. Georgia's supermarket sector is currently underdeveloped. Many people still buy at the wet market and small family operated local shops. As the economy further develops, consumers will start focusing more on shopping in supermarkets, as has happened in many other developing economies. The market for modern grocery shops in Georgia doubled over the last three years and is expected to further grow by 18.7% in the upcoming years.
What is our funding objective?
The funding will be used for rebranding the current Foodmart stores to the SPAR template and for opening up new shops.
Why do we fund this investment?
The increase in supermarkets will improve the access to cheap food and increases efficiencies in the value chain (especially in comparison with the traditional unbranded, family operated local shops in Georgia).
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/19/2015
- End date
- 12/8/2022
- Total FMO financing
- USD 7.40 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B