Tauranga-based Heilala Vanilla has its eye on stepping up its exporting efforts after signing an investment deal with the New Zealand Venture Investment Fund and Enterprise Angels BOP.
The NZVIF and Enterprise Angels have taken a 45 percent stake in the business, according to the Herald, which now intends to explore new markets in the US, UK and Japan.
Heilala Vanilla products are sold in retail, food service and food manufacturing in New Zealand, Australia, Singapore, Malaysia and the US.
In April last year Heilala secured a contract with US food retail chain, Williams-Sonoma, the second New Zealand company ever to do so.
Heilala Vanilla beans are grown organically on a plantation in Tonga established nearly 10 years ago in partnership with a local village.
The beans are sun-dried before being made into extract, paste and syrup at the processing plant in Tauranga.