Through this alliance, the partners aim to make COSTA D’ORO a global olive oil brand that combines natural authenticity, innovation and traceability.
Spoleto, Italy, 15 May 2018 —
The AVRIL Group has announced the signature of an alliance with the Sabatini and Santirosi families who founded the Italian olive oil brand COSTA D’ORO.
Through this agreement, which creates the third most important olive oil brand in the world, and in the context of a growing global market, the partners aim to raise the COSTA D’ORO brand to become the global reference in top quality olive oil, combining natural authenticity, innovation and traceability.
The partners have two main objectives:
1. To accelerate profitable growth of the COSTA D’ORO brand in both the Italian olive oil market (where it recently joined the leading trio) and internationally, where it achieves half of its sales in more than 100 countries.
To achieve this, they will be drawing strength from:
- The potential synergies offered by their respective know-how in terms of quality and innovation at both the nutritional and gustatory levels, and cross-over developments of oil and condiment product ranges;
- The conquest of new international markets, notably in China and North America.
2. To enable the AVRIL Group to pursue its international growth (where it currently achieves a third of its turnover) by developing its position in the olive oil market which has considerable potential for value creation, while remaining loyal to the integrated sectoral model – from agriculture upstream to industry downstream – that has become its specificity in the oils and proteins sector.
For this operation, AVRIL has been supported by the CASTEL Group, a major French and international actor in wines, beers and soft drinks. The alliance has thus reinforced the historic partnership between the two groups which initially developed around the restructuring of African oilseed sectors.
-Considerable potential for partners that share the same values-
Olive oil offers considerable potential for international growth. The global market was worth €12 billion in 2017 and is expected to grow by 4%-5% a year to reach €17 billion by 2025, driven by a rise in demand (notably in China and North America) and increasing interest in a product with attractive features that are welcomed by demanding consumers: top quality, traceability and obtained from natural sources, as well as the nutritional and gustatory benefits of the Mediterranean diet usually associated with Italy.
For Olivier DELAMEA, General Manager of the AVRIL Group’s Oils & Condiments Business Line: “This alliance will enable the assembly of exceptional teams, know-how and products. All are advantages that will make COSTA D’ORO a major Italian brand in olive oil with global reach.”
For Ivano MOCETTI, Director General of COSTA D’ORO: “We are very proud of this alliance with the Avril Group. Together, we will be pursuing the initial goals of Costa d’Oro in Spoleto, Umbria, by providing it with the resources it needs to conquer new markets that are not only geographical but also concern innovation that will enable the best gustatory and nutritional quality. Our project will also eventually develop a vertical integration of the agricultural supply chain and industrial production in Italy and the Mediterranean basin.”
For Luciano SABATINI, founder – alongside the SANTIROSI family – and chairman of COSTA D'ORO, which celebrates this year its 50th anniversary: “This operation is not the point of arrival of our family and industrial project. It accelerates our plans for growth and development with an international partner of the highest level with which we share the same strategic vision and industrial values, and represents an opportunity for our company and for our country to create value.”
According to Jean-Philippe PUIG, CEO of the AVRIL Group: “This alliance brings together two actors which share the same values: the French leader in oils and proteins, founded by farmers committed to the sustainable development of agricultural and agrifood sectors, and an Italian, family-owned leader in olive oil with an exceptional brand reputation which wants to work with us to develop an integrated sector from upstream to downstream.”
The financial arrangements underpinning this operation have not been divulged.
About the AVRIL Group:
Set up in 1983 at the initiative of French farmers in order to assure long-term markets for French products, the AVRIL Group is the industrial and financial actor in the oils and proteins sectors.
It is present in France and internationally in sectors as diverse as human foods, animal nutrition and expertise, renewable energies and chemistry, through a portfolio of strong brands that are leaders in their markets: Lesieur, Puget, Matines, Bunica, Taous, Sanders, Diester®, etc.
In 35 years, the Group has changed in size but its purpose has remained the same: to create sustainable value in the vegetable oils and proteins sector while contributing to better foods for humans and preservation of the planet.
To fulfil its mission, Avril draws strength from its industrial activities organized around five Business Lines – Plant Processing, Oils & Condiments, Avril Specialties (Oleochemicals, Animal Specialties), Animal Nutrition and Processing and Avril Development –, as well as its work as an investor, operated through Sofiprotéol, its finance and development company.
In 2016, the Avril Group achieved turnover worth €5.9 billion. It counts 7,200 employees working in 21 countries.
For more information: www.groupeavril.com | Twitter: @Avril
About COSTA D’ORO:
COSTA D’ORO is an Italian leader in the production and distribution of top quality olive oil in Italy and throughout the world.
COSTA D’ORO is a family-led firm founded in 1968 in Spoleto, Umbria (central Italy) by the Sabatini and Santirosi families who wanted to combine their experience and produce premium quality olive oil.
As the olive oil market has evolved and grown, COSTA D’ORO has equipped itself with cutting-edge industrial facilities that can meet the demands and expectations of its customers and consumers in Italy and more than 100 countries.
In 2017, COSTA D’ORO achieved turnover worth €143.5 million.
For more information, go to: www.oliocostadoro.net