Press Release: Fondo Acceso SAS Announces First Investment in ColombiaSep 15, 2011 | Clinton Foundation | New York, NY | Press Release
The Small and Medium-sized Enterprise Investment Fund formed by philanthropist Frank Giustra and the Fundacion Carlos Slim, in association with the William J. Clinton Foundation, makes a US $1.35 million investment in Alimentos SAS, a promising Bogota-based fruit by-products manufacturer
Investment to result in the creation of 277 new manufacturing and farm jobs in Colombia
New York, NY, September 15, 2011 — Fondo Acceso S.A.S. (Acceso) announced today that it will invest US$ 1.35 million in Alimentos SAS (Alimentos), a 28-year-old Bogota-based manufacturer that produces several lines of fruit by-products including natural fruit juices and pulp for distribution in supermarkets as well as to institutional consumers. The investment (a combination of debt and equity) will facilitate Alimentos’ implementation of plant improvements enabling them to secure industry certifications and to introduce innovative shelf-stable technology allowing expansion into new markets. The investment in Alimentos will be made directly by Fondo Acceso SAS, a Colombian enity and subsidiary of Acceso Fund LLC.
Acceso was incorporated in 2010 by Fundacion Carlos Slim, A.C. and the William J. Clinton Foundation in association with Frank Giustra. Through this partnership and President Clinton’s focus on the issue, Acceso addresses the limited financing opportunities for the small-and-medium-sized enterprise (SMEs) sector in Colombia — a sector that is underserved by traditional capital markets. Acceso uses market-based approaches to make disciplined investments in the form of loans or equity, not grants. Acceso measures both social and financial returns, with social returns sought in the form of job creation. Over the next five years, the investment in Alimentos is expected to generate 277 new jobs — 100 in manufacturing and 177 in agriculture from the Colombia farm community that supplies fruit to Alimentos.
“By providing SMEs access to capital and assuring they seek the technical assistance needed to grow responsibly, we believe that they are well-positioned to expand. Through innovative funds such as Acceso, NGOs can be a catalyst for stimulating private financial market support of SMEs”, said Carolina Botero, Manager, Fondo Acceso.
About Fondo Acceso SAS
Fondo Acceso S.A.S. (Acceso) was incorporated in 2010 by Fundacion Carlos Slim, A.C. and the William J. Clinton Foundation as part of the Clinton Giustra Sustainable Growth Initiative. Small-and medium-sized enterprises (SME’s) employ 30 percent of the Colombian labor force, but face challenges in accessing the financing that would enable them to expand. Acceso works to provide emerging SMEs in Colombia equity financing alternatives along with capacity-building assistance. To learn more about Acceso, please visit: www.fondoacceso.com.
About Alimentos SAS, SA
Alimentos SAS has a 28 year history working in Colombia’s processed food market. In 2005, the company was acquired by Mr. Daniel Gaviria and Mr. Luis Trujillo, former executives in Colombia’s dairy industry. The combined vision of Mr. Gaviria and Mr. Trujillo is to apply the extended shelf-life and conservation processes common in the dairy industry to the fruit juice and fruit puree markets. To learn more about Alimentos, please visit www.pulpas-de-frutas.com.