Dcoop adquires to Cargill its interest in Mercaoleo, the Spanish olive oil joint ventureShare
16 Oct. 2014
Antequera.- Dcoop and Cargill have concluded an agreement on Mercaóleo, its Spanish olive oil business. The Spanish cooperative group Dcoop has bought to Cargill its 50 percent interest in the joint venture. Details of the agreement are not being disclosed.
Dcoop now assumes full ownership of Mercaóleo, the 50:50 joint venture established between Cargill and Dcoop in 2007. This includes the olive oil bottling plant at Antequera, near Malaga providing private label products and which currently employs around 25 people. As part of the agreement, Cargill and Dcoop have signed a mutual supply and distribution agreement where Cargill will continue as the exclusive distributor of bottled private label olive oil from this facility for some retail markets in Europe.
Paul Naar, executive vice president of Cargill’s food ingredients business in Europe commented: “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.”
José Moreno, president of Dcoop, said: “Mercaoleo has reached the expected trade and economic results and the company is prepared to enhance more business.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.”
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and nearly 150 years of experience. We have 142,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and the News Center.
Dcoop is a Spanish cooperative with 75.000 farmers joined. It is the world’s largest olive oil, olives and wine producer, and the company sells cattle, goat milk, pork and grains too. Dcoop has more than a hundred olive oil mills with a production of 293.000 tons last year.
Cargill: SCR – Sheena Campbell-Royle (firstname.lastname@example.org – 609127093)
Dcoop: Esteban M. Carneros (email@example.com – +34-657816097)
Image: Mercaóleo bottling plant in Antequera