"YU point" invests 40m EUR in bakeries and cafes - 300 new facilities

- Company "Yu point" will invest 35-40m EUR in the project for revitalization of baking sector within next two or three years - said President of "East Point" holding, Zoran Drakulić, last night (September 18, 2008).

- "YU point" has provided funds from the investment of a German investment fund in amount of 15m EUR, while another 15m EUR will be provided from the loan of European Bank for Reconstruction and Development (EBRD), and these funds will be used for cosntruction of a new bakery and 220 bakery stores and about 50 cafes named "Point cafe" - he said at the press conference.

Drakulić specified that the new bakery would be built on Belgrade-Pančevo road, while the old units would be closed. The carriers of the project will be the Belgrade Baking Industry and "Klas".

- The plan is that "Point cafe" chain represents a combination of bakery and catering facility, adapted to fit the needs of local customers - said Drakulić at the opening of the first such cafe in Belgrade.

As he announced, another four or five "Point cafes" and bakery stores will be opened by the end of the year.

The project includes construction or renovation of total of 300 facilities, one fifth of which will be "Point cafes" whose offer will include liqors, baked goods, sandwiches, salads and, maybe, sweets.
Drakulić also announced opening of "Point cafes" in the major cities around Serbia and he said that he would take over the majority package of stocks of Niš-based "Žitopek".

He explained that Belgrade's bakeries would deliver half-frozen products to all those cities, while the bakeries owned by "Yu point" in Paraćin, Valjevo and Bačka Palanka would be delivering fresh products.

Drakulić expects that the value of the company on stock exchange could reach 200m EUR in two or three years.