Spain’s AG Olives has acquired a stake in Greek table-olive peer Georgoudis to bolster its “sourcing and manufacturing”.
Founded in 1897, Georgoudis produces and exports Greek table olives under its Parthenon brand to more than 60 countries.
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Under the Parthenon brand, the company sells Mediterranean olive varieties such as Kalamata, Halkidiki, and Conservolea.
As part of the agreement, AG Olives will integrate Georgoudis’ “premium” Greek speciality olives into its global product portfolio.
The acquisition was revealed in a statement forwarded to Just Food by Georgoudis-Parthenon, which declined to disclose the size of the stake purchased.
Georgoudis has two manufacturing plants, with one currently in operation, according to the statement.
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By GlobalDataThe partnership is a “high-value alliance” designed to extend the investment programme at the Volos facility, focusing on “capacity expansion, improving efficiency, and fostering regional development and rural production”, the statement added.
The tie-up is expected to bolster AG Olives’ global footprint, sourcing and manufacturing while enabling Georgoudis to use its new investor’s logistics network and customer base to access new markets.
AG Olives Group CEO Francisco Escalante expressed enthusiasm about the agreement, saying the company has found “the perfect match, one that values as much as we do the family tradition, sustainability, and the care of their own while innovating and integrating technology with the ambition to improve every day”. He added: “Together, we will elevate the olive category worldwide.”
With more than 800 employees, AG Olives is said to have a production capacity of over 100,000 tons of olives.
The investment in Georgoudis comes two years after AG Olives acquired California-based Lindsay Olives manufacturer Bell-Carter Foods in 2022, respectively.
Georgoudis CEO Nelos Georgoudis will remain at the helm of the company post-deal closing.
He said: “This alliance will strengthen our ties with existing customers and expand the Company’s olive category offerings.
“Our roots are deeply planted in Greece, but our focus has always been to grow globally to support our community and bring our exceptional and renowned Greek olives to tables all over the world.”
