Investment & Fund Management
Manifoods leveraged EU support through the European
Full Credential Description
Manifoods, a company based in Greece, specializes in processing, packaging, and exporting Kalamata olives, a product integral to the local economy where approximately 70% of the population is involved in the olive industry. Despite the economic challenges facing Greece, Manifoods sought to expand its operations. The company faced the niche issue of needing substantial financing to support its growth ambitions, specifically to double its workforce and establish two new production lines.
To address this challenge, Manifoods leveraged EU support through the European Fund for Strategic Investments (EFSI) and the COSME Loan Guarantee Facility. This tailored financial solution was facilitated by the National Bank of Greece, which provided the necessary backing for Manifoods to secure the funds required for its expansion.
As a result of this strategic financing, Manifoods successfully doubled its staff and opened two new production lines, significantly enhancing its production capacity. This expansion not only contributed to the local economy by creating jobs but also positioned Manifoods to better meet the growing demand for Kalamata olives in international markets.