Spanish olive oil firm Deoleo has announced it is furthering its divestment plan in order to improve profitability.
As reported by expansion.com, the company has sold its production facilities in Antequera to the co-op group Dcoop (formerly known as Hojiblanca). The deal was closed for €7 million.
As well as that, Deoleo has announced the forthcoming closure of its facility in Inveruno, Milan. This will affect 98 workers, which represents approximately 13% of the group's total workforce.
Both are part of the measures that Deoleo has implemented since late 2015 in order to improve profitability and to stop the losses registered in Spain and Italy. Such measures also include accelerating the growth of more profitable channels in the US and initiatives aimed to improve margins.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.
