Olive Oil Company Shares Rise Over 17% in Acquisition Race

Deoleo’s shares in Spain rose by more than 17% amid reports that the Spanish Decopic Group has made an offer worth 470 million euros ($545 million) to acquire the company, enhancing the chances of completing a deal that could position Spain as a global leader in the olive oil market. If the deal goes through, a giant company will be established, comprising several brands and accounting for approximately 15% of domestic consumption, with initial expectations to complete the transaction by September. Deoleo is a target in a fiercely competitive market that includes Italian, French, and Australian companies. The increase in its shares came after its best performance since March 2022.

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