BBVA advises Deoleo in an unique transaction in the global olive oil marketOctober 30, 2012
BBVA Corporate Finance is pleased to announce that it has advised Deoleo in a groundbreaking transaction for the global virgin extra olive oil market, validating the company's quality brand and its global dominance in the sector.
Deoleo and Hojiblanca have reached an agreement whereby Deoleo will acquire certain assets belonging to Hojiblanca, including the Hojiblanca brand. Hojiblanca is a leading international extra virgin olive oil producer with production facilities in Antequera (Malaga, Spain). The transaction will be fully paid in newly-issued Deoleo shares, giving Hojiblanca a 9.63% share in Deoleo.
Deoleo, previously known as the SOS Group, is a Spanish listed company and global leader in the vegetable oils business. It is well-known by Spanish and international consumers alike as it owns the emblematic Carbonell, Koipe, Bertolli and Carapelli brands.
This operation strengthens Deoleo's presence in the attractive, expanding extra virgin olive oil segment and reinforces its financial position.
BBVA Corporate Finance's advisory services to the Deoleo Board of Directors entailed issuing a fairness opinion on the transaction.
This is the twelfth transaction BBVA has advised on in the Spanish Consumer & Retail sector since 2009. The main transactions are:
- 2012 – Bodegas Lan / Sogrape: acquisition of Bodegas LAN, one of Spain's leading D.O. Rioja producers, by Sogrape, Portugal's leading wine group.
- 2011 – Solán de Cabras (Osborne) / Mahou San Miguel Group: sale of Solán de Cabras, the industry's leading health drinks producer, to the Mahou San Miguel Group.
- 2011 – Ercoreca / Uvesco: sale of the leading food distributor in Vizcaya to the Uvesco Group, its main competitor in Cantabria and Guipúzcoa.
- 2010 – Leche Pascual Group/ Azkoyen: The Leche Pascual Group acquired the leading coffee producer for the hotel and catering channel with a domestic market share of around 5%.
- 2010 – Domecq Bodegas (Pernod Ricard) / Marqués de Riscal-Bodegas Muriel: sale of Marqués de Arienzo and related vineyards to a consortium formed by Marqués de Riscal and Bodegas Muriel.
- 2009 – El Árbol / Galerías Primero: acquisition of Galerías Primero, by the El Árbol supermarket group, from Caja de Ahorros CAI.
BBVA CF is consolidating its leadership in the Spanish market. Since 2009, BBVA CF has participated in over 50 transactions, advising leading Spanish companies such as: Cementos Portland Valderrivas, Acciona, FCC, Abertis and Ferrovial in the construction and infrastructure sector; Enel, Iberdrola, Cepsa and Endesa in the power sector; Grifols in the pharmaceutical sector; Pernod Ricard, Diego Zamora and the Osborne Group in the beverage industry; Nutrexpa in the food sector and Mapfre in the insurance sector.