DCOOP Acquires 20% Stake in Table Olive ProducerThursday, October 25, 2018
The world’s largest olive oil cooperative, DCOOP, has acquired a 20% stake in the world’s second largest and the USA’s largest table olive producer, Bell-Carter, reported Oils & Fats International citing Olive Oil Times. As a result of the deal, DCOOP’s US branch - Acorsa USA - would be integrated into the Bell-Carter corporate structure with the goal of strengthening its position in the US market. Bell-Carter produced and sold more than half of all olives in California, processing 36,300-54,400 tons/year of olives.
The collaboration between DCOOP and Bell-Carter came at a time when olives from Spain faced a 34.75% tariffs on the US market, and since January, an additional 21.6% duty had been imposed, causing Spanish olive exports to the USA to fall by 42.4% in Q1 2018. In 2017, DCOOP also signed an agreement with Baltimore, Maryland-headquartered olive oil manufacturer and importer Pompeian Group, increasing their stakes in each other from 20% to 50%, wrote Olive Oil Times.
DCOOP comprises 180 cooperatives with two production plants, processing a total of 90,700 tons of olives/year. It exports to 72 countries, with the EU, Japan and the USA being the leading three markets.