DCOOP merges with Baco and Procasur and beats again its record turnover in 2013Share
16 Jul. 2014
The cooperative shows an improvement from 2012 results in 11.3 million euros due to a price rise, mergers with other cooperatives and exports.
Úbeda- Dcoop SCA ended the financial year 2013 with a turnover of 564.964 million euros due to the combined performance of its Sections: Oil (424.7 million), Table Olives (85.6 million), Services and Supplies (23 million) and Livestock (31.7 million), according to the figures published today by the cooperative in Úbeda, where its Ordinary General Meeting has been held. Dcoop is thus consolidated as the largest agri-food cooperative Group in southern Spain. The Group experienced a growth of 4.4 percent over the previous year, 11.3 million euros more than in 2012, despite the fact that this year has been challenging in terms of production, with historical lows in the olive harvest.
This new record turnover figures are the result of a price rise (in response to the short supply of olive products), and a competitive strategy on growth (merging with other cooperatives, diversifying products and brands, and invoicing 150.4 million from international markets). A philosophy that guides the future plans of the Group, whose executives have officially announced today new mergers with other companies in the agri-food sector: Baco, the first Spanish wine group, and Procasur, the largest national cooperative in goat’s milk processing. These operations have been presented to the General Meeting for formal approval.
On the basis of the previous year’s results and considering the new perspective that opens up to Dcoop with its recent operations of integration and diversification, the group estimates to reach a total turnover of 1,000 million euros in the medium term.
Combined efforts and diversification
The business transaction with Baco will result in the largest multi-sectoral agri-food cooperative in Spain. Bodegas Asociadas Cooperativas (BACO) is the largest wine cooperative in Spain, with average production of 150 million litres of red and white wine in equal proportion. It is composed of nine cooperatives located in Toledo (4), Ciudad Real (4) and Cuenca (1). They invoice 65 million euros, which makes them the largest cooperative in Castile-La Mancha. This is the first trans-regional integration carried out by Dcoop.
Procasur is an Andalusian corporation based in Antequera that brings together 2,500 farmers, members of six cooperatives (Agasur and Agamma in Málaga, Caprinova in Almería, Corsevilla in Seville, Los Remedios-Picasat in Cádiz and Ovipor in Huelva, the latter three already members of Dcoop) and processes 20 million litres of milk with an annual turnover of 18 million euros. For Dcoop, this merger is another step towards its strategy of growth and diversification, incorporating goat’s milk to their livestock section.
Among the aims approved by the General Meetings of both groups are: the longevity, strength and durability of the two companies, improving their bargaining power; greater presence in markets through the introduction of new products in new commercial channels; centralizing services and reducing production costs; offering a higher quality to consumers; enhanced opportunities for career development; and most importantly, bringing the Castilian wine to worldwide markets making use of the synergies generated through the merger with the world’s largest producer of olive oil.
The integration of the balances of both cooperatives and centralized management of the activity of Baco and Procasur will be effective from September 1.
Olive Campaign 2013-14
The final production of the 110 oil cooperatives of the group reached 292.340 tonnes. Allocation by provinces as follows: 74,638 tonnes in Jaén, 86.228 tonnes in Córdoba, 61.851 tonnes in Málaga, 37.036 tonnes in Granada, 15.647 tonnes in Castile-La Mancha, 12.469 tonnes in Seville, 4.281 tonnes in Cádiz and 190 tonnes in Extremadura.
Esther Ontiveros 677 110 744 / firstname.lastname@example.org