Latvian company SIA MERKURS-RIGANTE has been working in the sphere of warehouse services and logistics since 1994. Recently the company launched a new business direction – delivery and wholesale of fresh fruits produced in Spain, Greece, Bulgaria, and Serbia on the market of Baltic states, Russia, Belarus, Kazakstan and other CIS countries. The assortment includes different kinds of stone fruits, strawberries, blueberry, citruses, apples, etc.
The business network is already active since June 2018. Having a number of contracted European suppliers, long-term experience in transportation and warehousing, possibility to use own infrastructure for the trade operations, necessary expertise in importation procedures, and high demand for high-quality product makes this business direction exceptionally promising and high-profitable.
SIA MERKURS-RIGANTE is looking to attract a factoring-type secured funding for the period of 6 months in order to finance additional deliveries of shipments of fruits to its partners within already established trade network.
Established in 1994, the “Rigante” group of companies is one of the major players on the Latvian market of warehousing and logistics. Until the recent time the business of RIGANTE consisted of two main parts:
1. Rigante Terminal (www.rigante.lv), which is one of the largest open customs warehouses in Latvia with total area of 39 400 m2. The overall area of warehouses located within this territory is 9 500 m2, while heated warehouses occupy 4 000 m2. The warehouses are equipped with modern loading machinery, specialized transport, and auto crane. The Terminal is located close to the Riga Commercial Port. Railway branch at the territory of the Terminal and the wide range of loading machinery ensure full service to complex cargo flows. Railway ramp can simultaneously serve 12 railway wagons. The services, offered by the company include: handling and transshipping of the cargo, transport and expedition services, affixing excise stamps, rental of warehousing areas, storage, and completion of the full range of customs procedures.
2. Freight transport company operating under the brand name Tiropa (www.tiropa.lv/en). Founded in 1997, the company has more than 20 years of experience in trans-border freight operations. Own fleet of more than 80 freight trucks is being operated by more than 100 skilled and experienced employees. All trucks meet EURO 5-6 emission standards and are equipped with modern route-tracking and management satellite system. The company offers the following services:
The market for imported fruits and berries in the Eastern Europe and CIS is still considered fairly underdeveloped and full of opportunities in comparison to Western Europe and US. A lot of people there still do not consider fresh fruits and berries to be an essential part of their food basket as consumption of these products currently is approximately 3,5 times lower than in the West. At the same time, as a result of the latest healthy lifestyle trends, growing personal income, and a number of other factors the demand for qualitative fruits and berries is increasing at a constant rate.
Increasing demand cannot be met with local supply, mainly due to the climate conditions, which are not favourable for growing good-quality fruits and berries as well as weaker and low-automated local farming sector. It provides a lot of opportunities for the companies that are able to import products of a necessary quality from other economic regions.
Envestio participant’s investment - EUR 1 000.00
Total expected return: EUR 1 109.08Invest in this project
|Kreditnehmer||SIA MERKURS-RIGANTE, Reg. Nr. 40003214339, Latvia|
|Finanzierungsziel||€ 45 000|
|Zweck des Darlehens||Factoring-type financing for the purchase and transportation of fresh fruits and berries|
|Rückzahlung des Darlehens||In full at the end of the Loan Period|
|Kapitalrückkauf möglich||Yes, 5% penalty rate|
|Zahlung von Zinszahlungen||Monthly, on a specific date|
|Typ der Finanzierung||Secured debt|
|Garantie vom Eigentümer des Projekts||Commercial pledge in favor of Envestio Collateral Agent, Personal guarantee|
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