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Natural ingredients firm, COSUCRA, secures €45 million investment raise to continue it ambitious energy transition

June 20, 2023

COSUCRA is giving itself the means to continue its energy transition and increase its production capacity with a €45 million (US$49 million) capital increase subscribed by Sofiprotéol, Wallonie Entreprendre, and the Société Fédérale de Participations et d’Investissement (SFPIM).

The global food market has undergone a major transition in recent years. With its portfolio of ingredients naturally-sourced, COSUCRA is at the heart of the challenge posed by these changes. Chicory root fiber and pea protein are playing an important role in rebalancing the nutritional profile of foods, in the supply of quality plant ingredients and in formulating health and nutrition products. To support manufacturers in these growing markets, COSUCRA is deploying a strategy where innovation plays a key role, from raw materials to ingredients.

By raising €45 million (US$49 million) from Sofiprotéol, Wallonie Entreprendre, and the Société Fédérale de Participations et d’Investissement (SFPIM), COSUCRA has given itself the resources to implement its ambitious transition plan. The plan has two main focuses: ensuring the energy transition at its two Belgian production sites and increasing production capacity at the chicory plant. The funds raised are part of the financing for an investment plan worth more than €200 million (US$218 million) between 2023 and 2030. COSUCRA‘s transformation plan is an integral part of the company’s vision: our roots, health, talent and the planet. By 2030, a 50% increase in the supply of FIBRULINE chicory products will support growth in the markets for sugar reduction, digestive health and plant fiber fortification, both in our daily diet and in food supplements and health products. COSUCRA‘s industrial plan is aimed at the energy transition of its pea and chicory factories, enabling it to reduce its carbon footprint by more than 50% per kilo of ingredient produced. COSUCRA’s transition plan provides for the creation of 75 direct jobs at the Warcoing site in Belgium.

“We are delighted that such professional investors as Sofiprotéol, Wallonie Entreprendre and SFPIM are joining us to transform tomorrow’s food while contributing to the necessary energy transition“, stated Eric Bosly, CEO of COSUCRA.

“COSUCRA has been able to impose itself very early in the sector of natural plant-based ingredients grown locally – peas and chicory – always looking for innovative solutions likely to meet health, environmental and societal expectations," added Luc Ozanne, Co-Head of Investments at Sofiprotéol. "We are delighted to support COSUCRA in this new phase of development as the challenges of agriculture and food transitions are major for the society, the planet and the consumers.”

“Wallonie Entreprendre has been a partner of COSUCRA for many years," stated Jean-Luc Nondonfaz, Investment Manager at Wallonie Entreprendre. "By participating in the financing of the company’s investment projects and acquiring a stake in its capital, Wallonie Entreprendre is demonstrating that its values are in line with those of COSUCRA and its shareholders. It was essentially the combination of the expected growth in production capacity with a precise commitment to reducing the environmental impact of activities that motivated Wallonie Entreprendre to invest in this ambitious project."

“We are delighted to be joining COSUCRA as a long-term shareholder," said Peter De Decker, Impact Investment Manager for SFPIM. !We were attracted by the role COSUCRA is playing in the transition to quality plant proteins, and by the potential of the chicory business to provide natural ingredients that play a major role in rebalancing the nutritional profile of foods. We want to be a committed partner along the way, working together towards a more environmentally friendly food chain."

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