Global Finance's Growth Fund invests in Familia

GLOBAL FINANCE is happy to announce that it has concluded an investment in FAMILIA a Sofia-based chain of convenience stores.

FAMILIA currently operates a network of 15 convenience stores with sizes from 200 to 400 square meters, which are mainly located in downtown Sofia and have a predominantly food and beverage offering. In the first half of 2004, FAMILIA, which is co-owned and managed by entrepreneur Christo Popov, had a turnover of approximately 5 million leva.

FAMILIA’s plans to aggressively expand its network in Sofia and subsequently in other Bulgarian cities. New stores in the pipeline are expected to bring FAMILIA’s network to a total of 20 by year-end.

Fast-growing FAMILIA is the Growth Fund’s first investment in Bulgaria. The Euro 20 million Growth Fund targets fast-growing companies in Bulgaria and Romania and supports dynamic entrepreneurs and management teams. The EBRD, the European Commission, the Bulgarian Post Bank and Doverie Capital are amongst the fund’s key investors. The European Commission’s participation is through the SME Finance Facility Special Fund, which is administered by the EBRD.

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