Dcoop Leads 470 Million Euro Bid for Deoleo

Dcoop, a Spanish agri-food cooperative, has emerged as the frontrunner in a multinational takeover battle for Deoleo, the world's largest olive oil bottler and marketer. Dcoop has offered 470 million euros to acquire a 57% stake in the company currently held by CVC Capital Partners.

Shares of Deoleo surged over 20% on Wednesday as reports of the intensifying competition surfaced. Dcoop is competing against several international firms, including Italy's Coricelli, Bonifiche Ferraresi, and Newlat Food, France's Lesieur, and Australia's Cobram Estate Olive.

Coordinated by KPMG, the transaction is reportedly in its final phase with a tentative closing date in September. If completed, the deal would grant Dcoop control of major brands such as Bertolli, Carbonell, Koipe, and Hojiblanca. The acquisition would consolidate Spanish ownership of the sector's three largest companies—Deoleo, Migasa, and Acesur—securing approximately 15% of Spain's national olive oil consumption.