Dcoop Reportedly Leads €470 Million Bid
Shares of Spanish olive oil producer Deoleo rose more than 15% on Wednesday as several companies compete to acquire the world’s largest olive oil bottler and marketer.
Spanish agri-food cooperative Dcoop has reportedly offered €470 million ($545 million), putting it ahead of Italian, French and Australian rivals. According to El Economista, the deal has not yet been finalized but is in its final stages, with a potential closing in September.
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
If completed, the acquisition would strengthen Spain’s position in the global olive oil industry, creating a major producer with brands including Bertolli and Carbonell and an estimated 15% share of Spain’s domestic consumption.
Several Buyers Are In The Race
Dcoop is competing with Italy’s Coricelli, Bonifiche Ferraresi and Newlat Food, France’s Lesieur, owned by Avril, and Australia’s Cobram Estate Olive.
Deoleo shares were last up 15.4%, reaching a new 52-week high and heading for their strongest session since March 2022.
Olive Oil Market Stabilises
Spain, Italy and Greece remain among the world’s leading olive oil producers, while climate change, water shortages and pests have contributed to major price swings in recent years.
Deoleo recently told CNBC that the period of unprecedented volatility in the market has begun to give way to more stable conditions.
