BALTIMORE, Oct. 30, 2017 /PRNewswire/ -- Pompeian Group, the Baltimore-based top importer and manufacturer of olive oil in the United States, announced today that it has strengthened its alliance with DCOOP Group of Spain, the largest olive oil cooperative in the world, by signing a new agreement that increases the companies' stakes in one another from 20% to 50%. This agreement will allow both companies to bolster their position in the United States, a market with a trend of increasing olive oil consumption that currently absorbs a volume of more than 300,000 tons per year.
Pompeian, through its various olive oil companies in the United States, and DCOOP, through its subsidiary Mercaóleo, made their first share exchange of 20% in November 2015, creating the global leader in olive oil. Pompeian, as the #1 selling olive oil in the market, brings to the alliance its commercial capacity in both bulk and packaging in different countries, including the United States, where it is the leader for bottled olive oil. As the largest producer in the world, DCOOP brings its strength in the quality production and efficient supply of olive oil.
Under this agreement, both groups share a 50% stake in Mercaoleo (which possesses two bottling plants in Antequera, Malaga), a 25% stake in Qorteba Internacional (the refinery and olive oil storage of Alcolea, Córdoba) and a 50% stake in the Pompeian Group. DCOOP has made a significant investment into Pompeian's U.S. operations, which include oil bottling plants on both the East and West coast and bulk oil trading operations.
Pompeian is the leading importer and manufacturer of olive oil in the United States, importing 50,000 metric tons per year. In addition to being the #1 selling brand of olive oils in the U.S., the company produces a line of best-selling gourmet vinegars, cooking wines and cooking sprays. Baltimore based since 1906, Pompeian focuses intensely on creating the highest quality products at the best possible value and partners directly with farmers, such as DCOOP, to achieve full transparency and consistency in quality.
The DCOOP Group of Spain is the world's largest olive grower, made up of over 75,000 family farmers and ranchers. The cooperative produces more than 220,000 metric tons of olive oil per year through more than 50 million trees, and invoiced 1,001.4 million euros in 2017 while exporting 489 million euros to 60 countries. The DCOOP farmers produce a diverse crop of olives and engage in other products such as wine, table olives, goat's milk, beef cattle, pork, cereals and almonds.
"Pompeian and DCOOP is now a fully integrated sourcing model from tree to bottle, which will work to serve the United States consumer with a supply of safe and high quality olive oils," said David Bensadoun, Chief Executive Officer of Pompeian Group. "The current levels of olive oil consumption in the United States are much lower than that of our European counterparts, but our now strengthened partnership strives to allow every American household to enjoy the innate health benefits and great taste of high quality extra virgin olive oil."
DCOOP Group Chief Executive Officer Antonio Luque gave the following statement: "This partnership will strengthen our leadership in the world olive oil market and work to increase olive oil consumption with an absolute commitment towards a high quality product. This is a key step for our 75,000 families of farmers who, day after day, strive to produce the best olive oil in the world."
About Pompeian Group
Baltimore based since 1906, Pompeian, Inc. is America's largest national brand of olive oil, best-selling wine vinegars and a variety of cooking sprays. Pompeian is the first brand to carry the USDA Quality Monitored seal on its extra virgin olive oil and works with numerous third parties, including the North American Olive Oil Association, to ensure the quality of its products. In addition, the company conducts daily testing through its very own American Oil Chemist Society accredited Pompeian Sensory Panel in the state-the-art Pompeian Quality Control and Research & Development Center.
About DCOOP Group
The DCOOP Group is a large, second-degree cooperative in Spain that partners with companies and not individuals. Partners include cooperatives whose owners consist of more than 75,000 farmers and stockbreeders in Spain. Olive Oil, olives, goat milk, wheat, livestock, supplies and services are the divisions in which DCOOP devotes its activities. The DCOOP Group is the world's largest olive oil producer with average crops of 250,000 tons. Its revenue will achieve 900 million € this year. All product sold by the DCOOP Group is produced by cooperative farmers. The DCOOP Group has subsidiaries called Mercaoleo and Qorteba, and offices in China and the United States.
SOURCE Pompeian, Inc.