Deoleo Takeover Battle: Who Will Control Bertolli, Carapelli and Hojiblanca?

Deoleo, the Spanish company that bottles global olive oil brands including Bertolli, Carapelli, Carbonell and Hojiblanca, is on the verge of changing hands after Italy’s Pietro Coricelli emerged as the leading bidder in a takeover battle worth roughly €500 million. The contest, which pits Coricelli against Spanish rivals Dcoop and Acesur, will decide who controls one of the world’s largest olive oil bottlers and its portfolio of household-name brands.

A €500 Million Fight for Spain’s Olive Oil Crown

Deoleo’s two principal shareholders, investment firms Alchemy Partners and CVC Capital Partners, together control about 70 percent of the group and have been weighing an exit after years of restructuring and debt reduction. Bidding closed at the end of August 2026: Pietro Coricelli reportedly offered about €500 million, Spain’s Dcoop about €470 million, and Acesur roughly €460 million, with Bonifiche Ferraresi also among the final interested parties. Deoleo bottles approximately 158 million liters of olive oil a year and held an estimated 8.3 percent share of the global packaged olive oil market in 2025. Spain’s Ministry of Agriculture and the regional government of Andalusia have both signaled a preference for keeping the company under domestic ownership, while the labor union CCOO Andalucía has urged Madrid to use foreign-investment rules if needed to protect jobs and the olive oil supply chain in Andalusia. A decision on a preferred bidder is expected in September 2026, subject to regulatory and competition approval.

From Near-Collapse to Profitability

The sale caps a turbulent decade for Deoleo, which traces its roots to 1955 in Bilbao. In 2017, the company reported losses of €179 million and cut its workforce by about 15 percent amid warnings it could collapse entirely. Losses continued in 2023 (€34.3 million) and 2024 (€54.5 million), the latter worsened by an Italian tax dispute involving its Carapelli subsidiary. Deoleo returned to profitability in 2025, posting net income of about €20 million as production normalized and consumption recovered. For international buyers, the uncertainty around Deoleo’s ownership is one more reason to diversify sourcing beyond a handful of legacy European brands — Tunisian olive oil, already exported to more than 70 countries, offers a quality-verified, high-volume alternative that isn’t tied to any single company’s boardroom battle.

FAQ

Who is buying Deoleo? Italian food company Pietro Coricelli has emerged as the leading bidder for Deoleo, with an offer valuing the company at about €500 million, ahead of competing bids from Spain’s Dcoop (€470 million) and Acesur (€460 million).

What brands does Deoleo own? Deoleo owns some of the world’s best-known olive oil brands, including Bertolli, Carapelli, Carbonell and Hojiblanca, and bottles approximately 158 million liters of olive oil each year.

Source: Olive Oil Times