Spain's Dcoop offers €470 million for olive oil leader Deoleo, report says (updated)

Cobram Estate Olives

19/08/2026 16:08

Adds Deoleo's statement in bullet 1, updates share price
By Tiago  Brandao and Mireia Merino
Aug 19 (Reuters) - Spanish agri-food cooperative Dcoop has offered €470 million ($545 million) to buy a 57% stake in Madrid-listed olive oil producer and marketer Deoleo OLEO.MC, El Economista newspaper reported on Wednesday, sending Deoleo shares up 24%.
The deal would create a new giant in the olive oil sector with turnover of more than €2.2 billion. Deoleo is the world's largest branded olive oil company, marketing and bottling around 158 million litres (41.7 million gallons) of oil per year. 
Deoleo declined to comment on whether it had received such an offer, but said in a brief statement that while key shareholders were considering options, including possible sale of all or part of the group, no final decision has been taken.
The acquisition of the 57% stake held by CVC Capital Partners is expected to be finalised in September, the report said, citing sources familiar with the matter.
According to El Economista, Dcoop's bid is higher than previous offers from rivals such as Italy-based Coricelli, Bonifiche Ferraresi and Newlat Food, as well as French edible-oils maker Lesieur — a subsidiary of the Avril Group — and Australia's Cobram Estate Olives CBO.AX.
The proposed deal would force Dcoop to sell its Italian brands Bertolli and Carapelli to avoid potential competition issues in the United States, the report added.
Shares in Deoleo soared 24% to 0.46 euros, on track for their best daily performance since June 2020.
Dcoop did not comment on the report, but said in a statement to Reuters that it was studying opportunities and hoped to prevent Spain from losing its global leadership in the sector.
($1 = 0.8619 euros)

(Reporting by Tiago Brandao and Mireia Merino; Editing by David Latona and Andrei Khalip)
((Tiago.Brandao@thomsonreuters.com;))