Deoleo has completed a €25 million capital increase, which the company will use to help stimulate international growth and enhance the company’s leading brands.
Deoleo – the owner of premium olive oil brands such as Bertolli – issued over 250 million shares to fund the capital increase.
OLE Investments, a subsidiary of Deoleo’s majority shareholder CVC Fund VI, now holds a 56.4% stake in the company, and said it would continue its support for Deoleo’s current executive team and the company’s long-term business strategy.
According to 2017 figures from Euromonitor, Deoleo currently holds a 10.2% share of the worldwide olive oil market, and the company says the new funding will strengthen its Bertolli, Carbonell and Carapelli brands, in order to encourage the growth of these brands, especially in markets with high-growth potential.
A statement from Deoleo said: “Deoleo will deliver commercial innovation through the global refresh of the world-leading Bertolli brand and the launch of its premium range under the Carapelli and Hojiblanca brands in Spain.
“In addition, Deoleo continues to expand its range of organic olive oils as customer demand for organic food and products grows.
“Deoleo is focusing on an olive oil production and sales model firmly based on value and quality. This model will be rolled out across the entire production chain, from the olive grove to the shop shelf.
© FoodBev Media Ltd 2019
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