Spain-based olive oil processing company Deoleo has raised 25 million euros ($28.3 million) in funding.
Deoleo issued over 250 million shares to fund the capital raise. OLE Investments, a subsidiary CVC Fund VI, now holds a 56.4 percent stake in Deoleo and said it would continue its support for Deoleo’s long-term business strategy.
The company also said that the new funding will strengthen its Bertolli, Carbonell and Carapelli brands, in order to encourage the growth of these brands, especially in markets with high-growth potential.
In addition, Deoleo expects to continue to expand its range of organic olive oils as customer demand for organic food and products grows.