`Dcoop Acquires Cargill’s Share of Mercaoleo

Europe

Dcoop Acquires Cargill’s Share of Mercaoleo

Oct. 21, 2014
Charlie Higgins

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Last week the Span­ish coop­er­a­tive known as Dcoop reached an agree­ment with Cargill to pur­chase the company’s 50-per­cent share in Mer­caoleo, an olive oil busi­ness estab­lished as a joint ven­ture between the two enti­ties in 2007, thus trans­fer­ring full own­er­ship to Dcoop.

Through the agree­ment Dcoop will now con­trol Mercaoleo’s bot­tling plant in Ante­quera, Malaga, which cur­rently has 25 employ­ees. This facil­ity has an annual bot­tling capac­ity of 100 mil­lion liters.

Mean­while, Cargill will con­tinue as exclu­sive dis­trib­u­tor of Mercaoleo’s house brand in cer­tain retail mar­kets in Europe.

Dcoop’s exper­tise in olive oil pro­vides a bet­ter oppor­tu­nity for the future of growth of this busi­ness and will enable us to con­tinue to focus on offer­ing a range of high-qual­ity veg­etable oils to our cus­tomers,” said Paul Naar, exec­u­tive vice pres­i­dent of Cargill’s food ingre­di­ents busi­ness in Europe.

Mer­caoleo has met its trade and eco­nomic tar­gets and the com­pany is look­ing for­ward to grow its busi­ness,” said José Moreno, pres­i­dent of Dcoop.

This joint ven­ture has pro­vided a strong foun­da­tion and we are now look­ing for­ward to devel­op­ing our growth and con­tin­u­ing to offer high qual­ity olive oil prod­ucts to cus­tomers around the world,” Moreno added.

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Though full details of the trans­ac­tion have not been dis­closed, it is worth men­tion­ing that each com­pany invested 9 mil­lion euros to estab­lish Mer­caoleo back in 2007.

Dcoop is the world’s largest olive oil and olive pro­ducer with over one hun­dred olive oil mills. Last year the coop­er­a­tive pro­duced of 293,000 mt of olive oil — around 10 per­cent of the world’s total out­put.


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