Spain prepares €470 mln deal that could create a new olive oil giant

Spanish agri-food cooperative Dcoop has offered €470 mln for a 57% stake in olive oil producer Deoleo held by CVC Capital Partners. If completed, the deal would create a major new player with combined turnover of more than €2.2 bln. Deoleo is the world’s largest branded olive oil company, marketing and bottling around 158 mln litres of oil annually.

Dcoop’s bid exceeds previous offers from other potential buyers, including Italy’s Coricelli, Bonifiche Ferraresi and Newlat Food, France’s Lesieur and Australia’s Cobram Estate Olives. According to El Economista, the transaction could be completed in September, although no final decision has yet been announced.

A combination of Dcoop and Deoleo would significantly strengthen Spain’s position in the global olive oil market. Dcoop is a major agricultural cooperative and olive oil producer, while Deoleo has an extensive international distribution network and a portfolio of well-known brands. Dcoop said it was exploring opportunities and aimed to preserve Spain’s global leadership in the sector.

However, the potential transaction could face competition concerns. According to El Economista, Dcoop may have to sell the Italian brands Bertolli and Carapelli if it acquires Deoleo to avoid potential competition issues in the US market.

Interest in Deoleo has increased following an improvement in its financial performance. The company’s EBITDA rose by 50% to €50 mln in 2025, while net profit reached €20 mln. The acquisition could become one of the largest deals in the olive oil sector in recent years and further consolidate the industry around Spanish producers.

Tags: Spain, olive oil