Spanish multinational Deoleo, the world’s top selling olive oil bottler and processing company, has announced investments of 50 million euro to drive its ambitious growth plans.
The investments will focus on international markets with high growth potential, increased support of the company’s leading brands and on forging strategic business agreements with providers that are committed to quality.
Deoleo, which currently represents 10.4% of the total global olive oil market, plans to further strengthen its award-winning brands: BERTOLLI®, Carbonell and Carapelli. Deoleo will deliver commercial innovation through the global refresh of the world-leading Bertolli brand, the launch of our premium range under the Carapelli and Hojiblanca brands in Spain, a renewed product range for Carbonell and the introduction of table olives with the launch of a new premium line in 2018 under the Bertolli and Carapelli brands.
“These investments reflect confidence in our management expertise and business plans, all of which are set to positively impact Deoleo’s results across global markets” said Deoleo’s Chairman and CEO Pierluigi Tosato. “The new financial capacity will allow us to increase investment in our brands in key markets and to build even closer ties with providers which, like Deoleo, are committed to quality, innovation, traceability and, above all, to creating shared value in our sector”.
The financing will be provided through a combination of an extension by 25 million euro of an existing revolving credit facility, as well as a capital increase through preferential subscription rights for a further 25 million euro.
Deoleo Chief Commercial Officer Miguel de Jaime highlighted “The increased financial capacity combined with our newly achieved operational flexibility and efficiency, will enable us to harness real market opportunities and drive growth thanks to unique quality products and premium brands, allowing us to respond to ever growing demand from customers who value health, social wellbeing, transparency, quality and sustainability.”
Source: Deoleo
Ferrero North America has opened its new Kinder Bueno production facility in Bloomington, Illinois, US. The expansion, which is the result of a $214 million investment, was first announced in November 2022 and has created around 200 new jobs and is set to drive Ferrero’s market expansion.
Chiquita Brands – in collaboration with KeyGene, MusaRadix and Wageningen University and Research – has unveiled a new banana hybrid named ‘Yelloway One’. This variety is engineered to resist Tropical Race 4 (TR4) and show partial resistance to Black Sigatoka, two fungal diseases that pose severe threats to global banana production.
PepsiCo is planning to acquire packaged food business Siete Foods in a US$1.2 billion deal to “bring a rich, new aspect” to its portfolio. The move will add Mexican-American foods like tortillas, salsas, seasonings, sauces, cookies and snacks to PepsiCo’s range of products.
