Pompeian Group and Dcoop Group of Spain announce expansion of partershipShare
30 Oct. 2017
BALTIMORE, MD, October 30, 2017 – Pompeian Group, the Baltimore-based top importer and manufacturer of olive oil in the United States, announced today that it has strengthened its alliance with Dcoop Group of Spain, the largest olive oil cooperative in the world, by signing a new agreement that increases the companies’ stakes in one another from 20% to 50%. This agreement will allow both companies to bolster their position in the United States, a market with a trend of increasing olive oil consumption that currently absorbs a volume of more than 300,000 tons per year.
Pompeian, through its various olive oil companies in the United States, and Dcoop, through its subsidiary Mercaóleo, made their first share exchange of 20% in November 2015, creating the global leader in olive oil. Pompeian, as the #1 selling olive oil in the market, brings to the alliance its commercial capacity in both bulk and packaging in different countries, including the United States, where it is the leader for bottled olive oil. As the largest producer in the world, Dcoop brings its strength in the quality production and efficient supply of olive oil.
Under this agreement, both groups share a 50% stake in Mercaoleo (which possesses two bottling plants in Antequera, Malaga), a 25% stake in Qorteba Internacional (the refinery and olive oil storage of Alcolea, Córdoba) and a 50% stake in the Pompeian Group. Dcoop has made a significant investment into Pompeian’s US operations, which include oil bottling plants on both the East and West coast and bulk oil trading operations.
Pompeian is the leading importer and manufacturer of olive oil in the United States, importing 50,000 metric tons per year. In addition to being the #1 selling brand of olive oils in the US, the company produces a line of best-selling gourmet vinegars, cooking wines and cooking sprays. Baltimore based since 1906, Pompeian focuses intensely on creating the highest quality products at the best possible value and partners directly with farmers, such as Dcoop, to achieve full transparency and consistency in quality.
The Dcoop Group of Spain is the world’s largest olive grower, made up of over 75,000 family farmers and ranchers. The cooperative produces more than 220,000 metric tons of olive oil per year through more than 50 million trees, and invoiced 1,001.4 million euros in 2017 while exporting 489 million euros to 60 countries. The DCOOP farmers produce a diverse crop of olives and engage in other products such as wine, table olives, goat’s milk, beef cattle, pork, cereals and almonds.
Pompeian’s Sylvain Devico and Dcoop’s Antonio Luque while signing the agreement in Marbella (Malaga, Spain) last October 10th with other representatives of both companies.