Italian group Coricelli counterattacks and raises its offer for Deoleo to 500 million euros, outbidding Dcoop, which made a purchase proposal of 460 million . Deoleo, owner of brands such as Koipe and Carbonell, confirmed yesterday afternoon in a statement to the CNMV that both CVC and Alchemy are studying the sale of their stakes—50.9% and 40.3% respectively—though without yet mentioning potential buyers. According to the group, the funds “are analyzing possible strategic alternatives regarding their investment, which include the potential sale of all or part of Deoleo group’s assets and businesses.”
As explained by the newspaper El Economista, Coricelli—with a strong presence in the international market and a growing footprint in Spain—seeks to reinforce its global position at a time of consolidation in the sector, where scale and brands are key to competing in markets like the United States, where Deoleo operates with leading labels such as Bertolli or Carapelli. Sources close to the operation assure that, pending any new developments, everything points to Coricelli potentially signing an exclusivity agreement in the coming days to seal the deal.
Fully family-owned and founded in 1939 by Pietro Coricelli, the firm has managed to push its turnover to around 400 million euros, marking a significant leap from just over 100 million recorded barely five years ago. It is currently in the hands of the third generation, with Chiara Coricelli serving as Chairwoman and CEO.
Alongside Coricelli and Dcoop, Acesur—owner of brands like Coosur and La Española—also remains in the auction, completing the trio of contenders in an increasingly open bid.
Deoleo closed the first half of the year with a turnover of 393.2 million euros, representing an 8.7% drop compared to the same period last year due to lower sales volume and falling prices. However, profit grew to 20 million euros, driven by the refund of export tariffs from the United States. EBITDA (gross operating result) rose 51.5% to 32.9 million euros. Deoleo has also cut its net financial debt down to 85.46 million euros.
