Dcoop, the Spain-based food co-op, has acquired a 5% stake in Portuguese olive and olive oil company Maçarico.
Financial details have not been disclosed.
Maçarico produces table olives and olive oil, sauces and pickles and Dcoop said, through this alliance, the companies intend to strengthen the Portuguese table olive market. The deal also includes an agreement for Dcoop to supply Maçarico with olives.
Maçarico operates in more than 40 countries.
Dcoop is reputed to be the world’s largest producer of table olives, with production of around 100,000 tons a year and 225,000 tons of olive oil.
It said the deal will allow it to commercialise production through a consolidated company in important markets.
This is the second recent olive market deal signed by Dcoop, after the agreement with Bell-Carter in the US, where it already owns 50% of olive oil business Pompeian.
In March, Dcoop launched a new goat milk push via a new venture.