Photo: A bottle of Bertolli olive oil / Badagnani / CC BY 3.0
By: JBizNews Desk 🌎
Spanish cooperatives Dcoop and Acesur agreed to buy 91.99% of Deoleo Holding, the operating company of the olive-oil giant behind Bertolli, in a deal valuing Deoleo at an enterprise value of 520 million euros, with a path to full ownership, Just Food reported.
The sale is not a 520-million-euro cash purchase of the listed company’s shares. Deoleo’s listed parent would sell its 50.99% interest in the holding company, indicatively valued at 190 million to 200 million euros in equity, with adjustments at closing, Reuters reported.
The deal still needs approval from competition regulators in Spain and the United States, a foreign-investment review in Italy, and Deoleo’s shareholders, and it depends on conditions around the Bertolli license held by Japan’s Mizkan, CNBC reported.
Deoleo, based in Spain, sells olive oil under brands including Bertolli, Carapelli and Carbonell.
JBizNews Desk | Madrid
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