STOCKHOLM, SWEDEN — Lantmännen will expand bakery operations in Romania using a €90 million (more than $95 million) loan from the European Bank of Reconstruction and Development (EBRD).

Lantmännen will use this investment to finance the construction a new baking facility in Bucharest for Lantmännen Unibake Romania, a Romanian subsidiary of Lantmännen that produces frozen bakery products for the country, acting as a central production hub that supplies countries in Central and Southeast Europe. The completed facility will be one of the largest bakery operations within Lantmännen Unibake, which already owns more than 30 bakeries around the globe. It will also lead to larger exportation of bakery products in Romania, one of Europe’s biggest wheat exporters, and help modernize the country’s bakery sector.

Lantmännen’s new facility will be in line with the EBRD’s Green Economy Transition building requirements and will support the former’s wider sustainability agenda, which includes Lantmännen Unibake’s decarbonization commitments validated by the Science Based Target Initiative.