Investment & Fund Management

Juvinum, a family-run business based in Stockholm, faced significant challenges during the COVID-19 crisis, particularly due to its reliance on the HORECA sector (hotels, restaurants, and catering), which was severely impacted. Sales plummeted to nearly zero for several months, with 2020 sales dropping to less than half of a normal year. The company, which specializes in the wholesale of cooking wines, typically shipped around 130 containers annually but managed to ship only 58 in 2020. Additionally, they encountered transport disruptions, including difficulties in securing containers and trucks, leading to delays and increased costs.

To navigate these challenges, Juvinum sought financial support through a loan from DBT, guaranteed by the European Investment Fund (EIF) under the pan-European Guarantee Fund. This loan provided the necessary cash flow to maintain operations and avoid layoffs for their two employees in the UK. As a result of this support, Juvinum has successfully returned to pre-pandemic sales levels, demonstrating resilience in a volatile market. Carl-Viggo Östlund, co-owner of Juvinum, expressed awareness of the ongoing uncertainties in business but emphasized their commitment to staying operational and adapting to changing circumstances.