Biolab, an Italy-based organic-food business, has secured funding that will, in part, help the company export outside Europe.

Fruilia Finanzaria, the investment fund of Italy’s north-eastern Friuli Venezia Giulia region, has agreed to put EUR1m (US$1.1m) into Biolab, which already exports outside Italy into other EU states.

The EUR1m investment comprises EUR700,000 in an increase in Biolab’s capital and a five-year loan of up to EUR300,000.

Biolab director Massimo Santinelli said: “The new partnership with Friulia will allow us to take advantage of the positive trend that the organic market is experiencing in recent years, a sector that in Italy is worth EUR5.5bn, of which EUR2bn comes from exports.

“For this reason in the coming years we expect a strong push towards internationalisation, with new products that will also be marketed in areas outside the EEC such as China and the USA. The arrival of the new export manager and Friulia’s support will allow us to pursue this important goal.”

A business plan Biolab has drawn to cover 2019 to 2021 includes the appointment of an export manager, as well as other staff, which will mean the company employs 86 in two years’ time.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Biolab markets a range of foods, including those made from tofu and seitan, under its namesake brand, plus Liveg and Una Rosa di Sapori.

The company’s turnover stood at EUR8.4m in 2018, up 11% on 2017.