US olive oil importer and manufacturer Pompeian Group has strengthened its partnership with Spanish olive oil cooperative DCOOP Group.
A new agreement has been signed that increases the companies' stakes in one another from 20% to 50%. As a result, both companies will boost their positions in the US, a growing olive oil market that currently consumes more than 300,000 tonnes per year.
The two companies say that Pompeian will bring its commercial capacity in both bulk and packaging in different countries, while DCOOP brings its strength in the quality production and efficient supply of olive oil.
Both groups will share a 50% stake in Mercaoleo, which possesses two bottling plants in Antequera, Malaga, as well as a 25% stake in Qorteba Internacional, which includes an olive oil refinery and storage facility in Alcolea, Córdoba.
For its part, DCOOP has made a significant investment into the Pompeian olive oil operations in the US, which includes bottling plants on both the East and West coast, and bulk oil trading operations.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine