The sale process for Spanish olive oil group Deoleo has entered its final phase. According to reports by several Spanish business media outlets, Italian group Pietro Coricelli with an offer of 500 million euros. The Andalusian cooperative group Dcoop is said to have bid 470 million euros, while Acesur offered 460 million. The bids were submitted at the end of August and have since been assessed by the shareholders. Reports suggest that the negotiations are likely to conclude in September, but formal confirmation is still pending.
Deoleo owns longstanding brands such as Carbonell, Koipe and Hojiblanca. The largest shareholders, CVC Capital Partners and Alchemy Partners, launched a structured sale process in summer 2026. Deoleo said in mandatory disclosures to the Comisión Nacional del Mercado de Valores that it was considering strategic alternatives. The companies have not commented on the specific bid amounts so far. Media outlets also report that Coricelli is seeking a limited period of exclusivity to conclude negotiations swiftly.
A great deal is at stake for Spain in terms of industrial policy. A deal for Dcoop would create a nationally integrated champion in the olive oil business: the group could bring production, processing and international brand management together under one roof. An acquisition by Pietro Coricelli, by contrast, would emphasise internationalisation. The Italian family-owned group would gain direct access to Spanish premium brands and could expand particularly in the US market, where Deoleo already has a presence. In either case, competition reviews in Spain and the European Union would be mandatory; depending on the structure of the deal, approvals in non-EU countries might also be required.
The reports have recently triggered sharp movements in the capital market. Media reports point to strong fluctuations in Deoleo's share price, reflecting expectations of an imminent outcome. Whether the sellers, CVC Capital Partners and Alchemy Partners, grant exclusivity in the short term is likely to determine the next steps.
It remains unclear whether the buyers would have to adjust related arrangements such as purchasing alliances, supply contracts or investments in third markets. No specific details of possible conditions are available so far. What is clear is that only a formal agreement followed by disclosures to the Comisión Nacional del Mercado de Valores would reliably document the outcome of the process. Until then, information about the bids from Pietro Coricelli, Dcoop and Acesur remains credible but provisional.
Editor: Daniel Mayer (Article created with AI assistance).