Deoleo takeover battle intensifies between Coricelli and Spanish bidders

The bidding process for Deoleo, a global leader in the olive oil sector, has reopened following the expiration of an initial deadline. The Italian group Coricelli currently holds the highest offer, valuing the company at approximately 500 million euros with secured financing. However, Spanish entities Dcoop and Acesur remain in the race to acquire the company.

The takeover attempt has sparked political and strategic debate in Spain. While the Spanish government and the Junta de Andalucía have expressed a desire for Deoleo to remain under Spanish ownership due to its strategic importance to the olive oil industry, Agriculture Minister Luis Planas has stated that the executive will respect market rules and not intervene in the process.

If successful, a Coricelli acquisition would bring major brands such as Carbonell, Koipe, Bertolli, and Carapelli under Italian control. Spanish agricultural organizations are actively campaigning to prevent the sale to the Italian group, arguing that Spain must maintain control over its leading olive oil brands to preserve its industrial leadership.