Deoleo sale negotiations stall between Dcoop and Coricelli

Negotiations for the sale of Deoleo, the world's largest olive oil producer and owner of brands such as Carbonell and Hojiblanca, have reached a standstill. Potential buyers Dcoop and the Italian group Pietro Coricelli report they have received no recent updates from the sellers, investment funds CVC and Alchemy.

Coricelli previously submitted a €500 million bid, surpassing Dcoop’s €470 million offer, and had requested exclusivity. Dcoop’s Director General, Rafael Sánchez de Puerta, has called for support from the Spanish government, emphasizing the strategic importance of a Spanish entity controlling Deoleo to protect the international image and commercialization of Spanish olive oil.

While Coricelli is currently viewed as a frontrunner with apparent support from the Italian government, the sale process has become increasingly complex and has extended beyond initial market expectations. The transaction remains marked by tension between the competing bidders and their respective governments.