Dcoop Leads €470 Million Takeover Bid for Spanish Olive Oil Company Deoleo
Deoleo's stock surged over 20% after Dcoop, a Spanish agri-food cooperative, emerged as the leading bidder in an ongoing takeover process with a proposed offer of €470 million. The deal is expected to close by September if finalized. Dcoop faces competition from several international bidders including Italian firms Coricelli and Bonifiche Ferraresi, French firm Lesieur (owned by Avril), and Australia's Cobram Estate Olive. A successful acquisition would combine two major Spanish olive oil producers, capturing around 15% of domestic consumption. Deoleo is a leading producer with well-known brands like Bertolli and Carbonell. The company reported that recent market volatility has given way to more stable conditions in the sector.
Topics: corporate_takeovers olive_oil_industry stock_movement