What we do
Public consultation on the EIB Group's Environmental and Social Sustainability Framework - informational webinars
Public consultation on the EIB Group's Environmental and Social Sustainability Framework
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
InnovFin SME Guarantee Facility
COSME - Loan Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Prêt Participatif Grand Est
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
Central and Eastern European Technology Transfer (CEETT)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

Froxa: high quality below zero

image

Froxá is born in Cantabria (Spain) in 1983, thanks to the entrepreneurial spirit and the commercial vision of its founder, Abel Fernández. Abel set up a modest family business specialised in the distribution of fish, seafood, and frozen meals. Abel’s know-how soon made Froxá a leading distributor in the region and it hasn’t stopped growing ever since.

“Consumers will just pluck frozen fish and precooked meals off the supermarket shelves, but actually there is a very long process behind them. There are many stages involved and that often means different actors and different locations. If you can centralise the process, or large parts of it, there are definitely lots of gains in efficiency but also in the quality of the final product,” explains Aquilino Fernández, son of Froxá’s founder and current General Director.

With the help of an EU-guaranteed loan through Liberbank, backed by the EIF, Froxá has been able to purchase high-tech equipment with the adequate provisions to process precooked meals and frozen products in optimum and competitive conditions – in-house. One of the greatest advantages of this investment has been the optimisation in the processing of ‘KM 0’ products. Its geographic location allows us to obtain extraordinary raw materials, such as anchovies from the Cantabrian Sea, which are bought in ‘lonjas’ (fish markets) and processed along the same day. By doing this, Froxá are able to offer an exceptionally nutritious product with a clean label and a great added value.

Aquilino finds investment in technology indispensable towards the growth of a business and “it is here where the EU plays a key role. The relentless advancement of the technological industry obliges us to make constant investments in this type of resources. Without such investment, our equipment will rapidly become obsolete in comparison to our competitors’.”

The company is already witnessing the results of the expanded in-house processing across the majority of its products. In little more than one semester, one of Froxá’s lines of production that the investment highly benefited has improved to such an extent that it has increased Froxá’s sales by 35%.

Froxá’s name comes from a boat that fished in international waters. This idea of internationalisation and expansion has deeply inspired the company, driving them to the forefront of the industry and to opening offices in Asia and Latin America. Ultimately, the company progressively internationalises itself little by little every year. However, this international vision has not compromised its commitment to the local market, where Froxá is a clear leader in the sector.

Company: Froxá (Spain)

Type of business: food

EIF financing: SME Initiative Spain

Financial intermediary: Liberbank

For further information about EIF intermediaries in Spain, please refer to: http://www.eif.org/what_we_do/where/es/index.htm

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund 2021 – The European Investment Fund is not responsible for the content of external internet sites.