Puratos and private investors join forces to improve the livelihood of cocoa farmers globally

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Puratos has closed on a €1 billion financing from a group of private investors including Barings as the lead account. The first draw of the financing will be used to further accelerate our Cacao-Trace program.

 Cacao-Trace helps cocoa farmers increase their revenue thanks to the production of superior tasting chocolate, achieved by mastering the fermentation process.

Growing farmers’ expertise and income 

Around the globe, close to 50 million people, mostly located in tropical regions, are dependent on cocoa for their livelihoods. On average, cocoa farmers in West-Africa earn less than €2 per day, an income below the poverty line.

The Cacao-Trace program was created in 2014 by #puratos & Belcolade, a brand from #puratos Group. Since its creation and as of today with the support of this group of private investors, the Cacao-Trace program aims to increase its net positive social and environmental impact on the cocoa supply chain. Cacao-Trace focuses on superior tasting chocolate, and in the process generates value for all, from farmers to consumers. The program trains farmers and helps them to deliver cocoa beans of superior quality, increasing their revenue through a premium price and a chocolate bonus of €0.10 per kilo of chocolate, on top of conventional farm gate price. Today the premium price and chocolate bonus add up to the equivalent of 3 to 4 extra months of salary. Cacao-Trace is already active in several countries across the globe: Cameroon, Ivory Coast, Mexico, the Philippines, Papua New Guinea, Uganda, and Vietnam.

Financing for a more sustainable future of the cocoa industry

Following a thorough due diligence process, a group of private investors agreed to finance #puratos and Cacao-Trace for an aggregate amount of €1 billion, demonstrating the relevance and long-term potential of Cacao-Trace, to transform the cocoa supply chain in a social and sustainable way. The financing mechanics have been assessed by Peterson Projects and verified according to the ICMA[1] principles of sustainable financing. #puratos completed this transaction together with BNP Paribas as Lead Arranger and Eubelius as Legal and Tax advisor.

The €1 billion long-term financing will support the purchase of more Cacao-Trace certified beans directly from the farmers, intensifying the collaboration with local cocoa communities. It will also be used for the construction of ten cocoa post-harvest centers and three grinding lines in Central and South America, Africa and Asia between today and 2026.

Further information in the press release to download