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Fresh Del Monte Produce has announced the acquisition of Avolio, a Ugandan supplier of bulk crude and edible avocado oil.

As part of the deal, Fresh Del Monte will acquire a majority stake in Avolio as part of its initiative to expand into high-value specialty ingredients.

The acquisition enables Fresh Del Monte to transform avocados into premium avocado oil, a key component of the company’s long-term innovation strategy. Avocados are one of the few fruits from which oil can be extracted from the pulp.

Mohammad Abu-Ghazaleh, chairman and CEO of Fresh Del Monte, said: “Acquiring Avolio is a strategic step aligned with our long-term vision to extract greater value across our supply chain while advancing our commitment to sustainability.”

The combination of Avolio’s extraction technology – which will be scaled to process 140 metric tons of avocados per day – with Fresh Del Monte’s extensive supply chain expertise positions the two companies to lead the market in delivering high-quality, sustainable avocado oil solutions.

Abu-Ghazaleh continued: “It complements our newest business division – biomass and specialty ingredients – through which we are transforming agricultural byproducts into high-impact solutions that enhance soil health, support human wellness, and create new applications for a circular economy. These efforts not only reinforce our environmental stewardship, but also position us to compete in higher-margin categories that drive profitable growth and long-term shareholder value."

Fresh Del Monte plans to expand into other locations through increased production capacity and the development of new facilities to further capitalise on this growth.