Spanish olive oil producer Deoleo has sold its 50% stake in its Moltuandújar joint venture to partner Sovena, the Portuguese group.

Deoleo announced yesterday (21 May) Sovena would pay EUR6.1m (US$7.9m) to own 100% of the venture. Along with the stake sale, the two companies agreed to transfer machinery and lease assignment for the oil packaging site located in Andújar.

The move came as part of an efficiency plan to ensure the viability of the Andújar facility, Deoleo said.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now