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Cargill sells interest in Spanish olive oil joint venture to Dcoop

Antequera, Spain 16 October 2014 Cargill has concluded an agreement to sell its 50 per cent interest in Mercaleo, the Spanish olive oil business, to its joint venture partner Dcoop, the Spanish cooperative group. Details of the agreement are not being disclosed.

Dcoop now assumes full ownership of Mercaleo, the 50:50 joint venture established between Cargill and Dcoop in 2007. This includes the olive oil bottling plant at Antequera, near Malaga providing private label bottling products and which currently employs around 20 people. As part of the agreement, Cargill and Dcoop have signed a mutual supply and distribution agreement where Cargill will continue as the exclusive distributor of bottled private label olive oil for some retail markets in Europe.

Paul Naar, executive vice president of Cargills food ingredients business in Europe commented: Dcoops expertise in olive oil provides a better opportunity for the future of growth of this business and will enable us to continue to focus on offering a range of high-quality oils to our customers.

Jos Moreno, President of Dcoop, said: This joint venture has provided a strong foundation and we are now looking forward to developing our growth and continuing to offer high quality olive oil products to customers around the world.

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Cargill

Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and nearly 150 years of experience. We have 142,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center.

Dcoop

Dcoop es una cooperativa Espaola formada por 75.000 agricultores. Es el productor de aceitunas, aceite de oliva y vino ms grande del mundo y la compaa vende vacuno, leche de cabra, carne de cerdo y tambin grano. Dcoop tiene ms de 100 molinos de aceite de oliva con una produccin de 293.000 toneladas al ao. Para ms informacin, www.dcoop.es

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