Deoleo, Spain’s biggest olive oil producer, announced that the private equity firm CVC Capital Partners presented the best offer for a controlling stake in the Spanish firm.
The move puts at risk British-based CVC Capital Partners’ bid for the indebted Spanish firm, which sells one fifth of the world’s bottled olive oil and owns three of the top four brands, Spain’s Carbonell and Italy’s Bertolli and Carapelli.
Spain is by far the biggest world producer of olive oil, with the growing industry a major employer in the country’s impoverished south. The government has said that while it will not block foreign takeovers, it does not want to see the company broken up.
Deoleo said on Wednesday private equity firm CVC had made the highest offer for the company. CVC planned to maintain Deoleo’s brands and keep the company intact, a source close to the deal said.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Deoleo, Spain, Olive Oil Producer, CVC, CVC Capital Partners, British Private Equity, UK Private Equity, UK, Italy, Carbonell, Bertolli, Carapelli.