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.”
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.