One of the world’s biggest branded olive oil companies, behind the likes of Bertolli and Carbonell, is set to fall under new ownership in a deal that will strengthen Spain’s dominant position in the category.
Madrid-headquartered Deoleo has signed a binding agreement to sell to rival olive oil producers Acesur and Dcoop in a deal worth €520m (£429m).
The sale covers the 90% stake in group parent Deoleo held by private equity firms CVC Capital Partners and Alchemy, but this could extend to 100% if other shareholders join as sellers, according to a stock market filing in Spain.
Acesur and Dcoop saw off a rival bid from Italy’s Coricelli after a long-running process, with the final result satisfying the hopes of local authorities for Deleo to remain a Spanish company.
However, the deal still has several regulatory hurdles to clear before completion, including gaining anti-trust clearance in Spain and the US, where Bertolli has a significant presence, as well as foreign investment clearance in Italy.
A sale is also conditional on Japanese food group Mizkan not terminating any Bertolli brand licence agreements within two months of today’s announcement.
Deoleo, which processes and bottles about 160 million litres of olive oil annually, posted revenues of €821m in 2025, with EBITDA of €50m and net profits of €20m after two years of losses. Lower olive oil costs in the first half of 2026 helped profitability improve further.
Dcoop’s president Antonio Luque said the business wanted families involved in generations of olive growing to continue making a living from the sector, as well as the next generation of farmers.
“Increasing the consumption of olive oil in the world is also an opportunity to strengthen our rural communities and our villages.”
Acesur CEO Gonzalo Guillén added Deoleo brands have earned the trust of consumers around the world. “Our ambition is to strengthen that bond and continue bringing olive oil to new markets, with quality, traceability and excellence as cornerstones.”
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