Investment & Fund Management
backed by the European Investment
Full Credential Description
Riberalves, a leading food-processing company in Portugal, faced the challenge of expanding its market presence while maintaining high standards of quality and innovation in its codfish products. The company, which produces over 30,000 tons of codfish annually—accounting for 8-10% of the global codfish catch—sought to enhance its production capacity and improve its processing technology to meet growing demand.
To address these challenges, Riberalves secured financing from Banco BPI, backed by the European Investment Fund (EIF) through the InnovFin SMEG program. This partnership marked the first InnovFin guarantee agreement in Portugal under Horizon 2020, aimed at supporting innovative companies. The funding enabled Riberalves to invest in its state-of-the-art production facility in Moita, which is the largest industrial plant dedicated solely to codfish processing.
As a result of these strategic investments, Riberalves successfully reinvented codfish consumption by introducing ready-to-cook, deep-frozen desalted codfish products. This innovation not only catered to consumer convenience but also opened new market opportunities, allowing the company to export to over 20 countries. Approximately 30% of its production is now directed towards the Mercado da Saudade, serving the expatriate communities of Portuguese origin. The company's commitment to quality and innovation has solidified its position in the competitive food industry, while its family-run structure continues to guide its operations and growth.