Spanish food group Sos has bought Italian cooking oil company Friol from Unilever for EUR33.2m (US$43.79m), just-food has learned.
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In a regulatory statement, Madrid-based Sos said the acquisition will enable it “to lead” the cooking-oil market in Italy after buying olive-oil producers Minerva Oli and Carapelli Firenze last year.
With sales of EUR30m in 2006, Friol controls 39% of Italy’s frying-oil market, Sos said.
With Friol under its wing, Sos’s Italian franchise expects sales to surpass EUR530m this year.
Sos, which sells Spain’s top cookie and rice brands Cuetara and Sos, recently restructured its debt to finance future acquisitions.
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By GlobalData
