Alvoar Equity (IFC-47068)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
Uninformed
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 30, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ALVOAR LACTEOS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 31.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 31.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Media Documents
Community Documents
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 10, 2025

Disclosed by Bank Mar 28, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed IFC equity investment of up to US$30 million is to support Alvoar Lacteos’s expansion program. Alvoar Lacteos (“Alvoar” or the “Company”, https://alvoar.embare.com.br/) was founded in 2022 as a result of the merger between Betania Lacteos S.A (“Betania”, a leading dairy producer in the Northeast of Brazil, https://www.betanialacteos.com.br/) and Embaré Indústrias Alimentícias S.A. (“Embare”, a dairy producer with strong presence in the Southeast and Midwest of Brazil, https://www.embare.com.br/). The expansion program for 2023 and 2024 will include the installation of new equipment, renovation of existing units, construction of a new unit for cheese production and E&S improvements expenditures. Alvoar operates eight industrial dairy plants and fourteen distribution centers across the states of Ceara, Pernambuco, Sergipe, Bahia, Alagoa and Minas Gerais. All dairy plants were in operation prior to 2018. Alvoar does not own any cattle farms and sources raw milk from 5,500 farmers, including dairy cooperatives and individual farmers, as well as middlemen. Nearly 200 products are manufactured at Alvoar’s industrial plants, including UHT milk, powdered milk, yogurt, cheese, candy and other dairy outputs. All industrial plants and distribution centers are located in urban areas or their periphery.                                                 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

IFC

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries.

 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly,  you can submit a complaint at the link above to IFC’s Access to Information Policy Advisor, who reports directly to IFC’s Executive Vice President.

 

 

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org.  You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works