Owned by private equity fund Bridgepoint, Peyman is a producer of dried fruit, seeds, nuts and popcorn.

The EBRD loan, with €10m syndicated to Dutch development bank FMO, will help in the funding of Peyman’s new production facility in Eskisehir in north-western Turkey.

Expected to begin operations in the first half of this year, the new 59,000m² production plant will have the capability to double Peyman’s production capacity to 45,000 tonnes.

Peyman board of directors chairman Tuncer Akgün said: “The EBRD’s financing is an indicator of faith in Turkey, our industry and in Peyman.

“The loan will help us sustain our continuous growth and strengthen our position as we work to become a global Turkish brand.”

According to EBRD, the modern layout and equipment of the new plant will help the Turkish company to boost efficiency and cut costs, and also free up resources for new products like snack bars and popcorn.

The loan will also help Peyman in procuring fruit, nuts and seeds from local farmers and also for storing, processing, drying and packaging the produce.

EBRD Turkey managing director Arvid Tuerkner said: “Peyman has successfully transformed itself from a small regional player into an internationally recognised brand. The EBRD is pleased to be part of this story of transformation and growth.

“We applaud the company’s commitment to working more closely with Turkish farmers and helping them increase their productivity and incomes. We believe this will help strengthen rural communities and boost the economies of the country’s remote regions.”

Established in 1995, Peyman supplies its products to national supermarket chains, small convenience shops and other retailers. The Turkish food company also exports its products to more than 40 countries which include the US, Russia and China.