Spanish olive oil producer Deoleo hires Lazard to seek options, including sale

Deoleo SA

09/10/2023 11:18

MADRID, Oct 9 (Reuters) - The world's largest olive oil
maker, Spain's Deoleo  OLEO.MC , has hired investment bank
Lazard  LAZ.N  to seek strategic options including a potential
sale, it said on Monday in a filing to the stock market
regulator. 
    Adverse weather in Spain has led to an olive oil output drop
 in the country which accounts for about 40% of global output.
    The company, whose main shareholder is buyout fund CVC, said
two weeks ago it had plunged in the red in the first half of
this year after posting a small profit a year earlier.  
    Deoleo, with such brands as Bertolli and Carbonell, has
denied it was in talks with United Arab Emirates' IFFCO as was
recently reported by El Economista newspaper.       

 (Reporting by Inti Landauro, editing by Andrei Khalip)
 ((Inti.Landauro@thomsonreuters.com;))