The company covered by this profile
Deoleo, S.A. is the Spanish listed company heading the group described in its consolidated accounts. Its registered office is at N-IV road, kilometre 388, Alcolea, Córdoba. Its activities include producing, processing and marketing oils and other food products. Figures in this profile refer to the group where specified; they are neither the parent company’s individual sales nor totals to which subsidiary revenue should be added again. Inclusion in the Spanish selection reflects the company’s registered office, despite foreign shareholder control. Deoleo: audited consolidated accounts 2025, PDF p. 16; Deoleo: audited consolidated accounts 2025, PDF p. 86.
A company incorporated in 1955 with older brands
The company was incorporated in Bilbao on 1 February 1955 as Arana Maderas, S.A. Following name changes and corporate transactions, it adopted the Deoleo name in 2011. This legal history should be distinguished from the age of its brands. Carbonell traces its origins to Antonio Carbonell and Córdoba in 1866; Bertolli began in Lucca in 1865, while the Carapelli family created its brand in 1893. These origins do not make the brand founders the founders of today’s listed company. Deoleo: audited consolidated accounts 2025, PDF p. 16; Carbonell: brand history; Deoleo: non-financial and sustainability statement 2025, PDF p. 40.
Ownership and the November 2026 sale agreement
The 2020 reorganisation left Deoleo, S.A. holding 50.996% of Deoleo Holding, the vehicle for the operating business, with other investors holding the remainder. At 30 June 2026, CVC Capital Partners PLC indirectly held 56.96% of the listed company through Ole Investments. The 5 November announcement confirms Ole’s percentage and reports a binding agreement with Aceites del Sur–COOSUR and Dcoop to sell approximately 91.99% of Holding, including Deoleo’s entire stake. This could reach 100% if other shareholders join. The €520 million enterprise value relates to 100% of Holding; it is not the cash amount the listed company will receive. Completion depends on approvals in Spain, the United States and Italy, a shareholder vote and a condition concerning Bertolli licences. As of 8 November 2026, this is an agreement awaiting completion. Deoleo: audited consolidated accounts 2025, PDF p. 61; CNMV: Deoleo, interim statements at 30 June 2026, PDF p. 18; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 1; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 2.
Oils, brands and distinct rights
The commercial portfolio includes extra virgin and virgin olive oils, and blends of refined and virgin olive oil; it also includes seed oils, vinegars, sauces and olives. Carbonell, Bertolli and Carapelli are central brands, alongside Fígaro, Koipe and Maestros de Hojiblanca. A marketed brand is not an independent company, and its rights are not necessarily identical across countries or categories. The 2026 sale agreement explicitly mentions Bertolli licences and a condition involving Mizkan. Accordingly, this profile does not attribute worldwide ownership of every product bearing that name to Deoleo. Deoleo: non-financial and sustainability statement 2025, PDF p. 40; Deoleo: non-financial and sustainability statement 2025, PDF p. 44; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 2.
From olive mill to bottle
Deoleo purchases oil from its supplier network, samples incoming tankers and combines laboratory testing with sensory assessment. It stores oil in stainless steel tanks under an inert atmosphere at controlled temperatures, develops blends for its brands and bottles products for distribution. The model involves working with farmers and olive mills, but does not imply group ownership of their olive groves. In 2025 the company stated that 85% of refined oil was produced outside its own facilities; plastic bottle manufacturing and logistics services were also outsourced. Deoleo: non-financial and sustainability statement 2025, PDF p. 15; Deoleo: non-financial and sustainability statement 2025, PDF p. 45.
Two owned plants and international distribution
The 2025 non-financial statement identifies two owned bottling plants: Alcolea in Spain and Tavarnelle in Italy. It reports 142 tanks in Spain and 88 in Italy, with a combined capacity of 31,536 tonnes. The network combines these facilities with 21 co-packers and international distributors, retailers and wholesalers. The annual overview reports brands present in 68 countries; commercial reach does not mean 68 subsidiaries or factories. This profile’s diagram represents the two owned plants using schematic icons rather than likenesses of their actual buildings. Deoleo: non-financial and sustainability statement 2025, PDF p. 5; Deoleo: non-financial and sustainability statement 2025, PDF p. 44; Deoleo: non-financial and sustainability statement 2025, PDF p. 45.
Consolidated revenue and earnings in 2025
The audited accounts record net revenue of €820.946 million in 2025, compared with €996.649 million in 2024. Consolidated profit was €19.700 million: €9.396 million was attributable to the parent company and €10.304 million to non-controlling interests. This distinction matters because of Holding’s ownership structure. EY issued an unmodified audit opinion on 30 March 2026. The 2026 interim results provide subsequent information but do not replace the latest complete annual reporting period used for size-based selection. Deoleo: audited consolidated accounts 2025, PDF p. 12; Deoleo: audited consolidated accounts 2025, PDF p. 3; Deoleo: audited consolidated accounts 2025, PDF p. 9; CNMV: Deoleo, interim statements at 30 June 2026, PDF p. 4.
Workforce and training: people and hours
The non-financial statement reports 634 employees at 31 December 2025, compared with 615 a year earlier: 384 men and 250 women across eleven countries. Spain accounted for 295 people and Italy for 133. These are headcounts, not full-time equivalents. The report separately identifies eight non-employees, including agency personnel and interns, who should not be added as direct employees. The year’s 27,267 training hours cover multiple subjects; they are not a dedicated occupational safety training figure. Deoleo: non-financial and sustainability statement 2025, PDF p. 143; Deoleo: non-financial and sustainability statement 2025, PDF p. 144; Deoleo: non-financial and sustainability statement 2025, PDF p. 145.
Verified leadership and governance
The board page, checked on 8 November 2026, identifies Ignacio Silva Alcalde as chairman and Cristóbal Valdés Guinea as chief executive officer. The latter also signed the 5 November sale announcement. Governance requires a distinction between the listed company and its operating entities: the shareholders’ agreement assigned leadership of the divestment process to Deoleo UK’s board, while the listed company’s disposal of its stake requires approval at its general meeting. Roles and powers are attributed to the entity that publishes them. Deoleo: board of directors; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 2.
Quality, traceability and EVOO-lution
Documented innovation combines sensory analysis, blend formulation, protection against light and 360-degree visual inspection. In 2025 Deoleo reported extending digital traceability to 51 extra virgin olive oil product references and using QR codes to inform consumers. The EVOO-lution 2025–2028 strategy, presented in October 2025, proposes developing markets such as North America and India, adjacent categories and improvements in procurement and operations. Profitability ambitions are targets, not results already achieved. Food quality control and traceability serve a different purpose from protecting the people working at the plants. Deoleo: non-financial and sustainability statement 2025, PDF p. 15; Deoleo: non-financial and sustainability statement 2025, PDF p. 45; Deoleo: EVOO-lution strategy 2025–2028, 28 October 2025.
Sustainability in agricultural sourcing
The Sustainability Protocol addresses water, soil, biodiversity, agrochemicals, waste and social conditions in the supply chain. The non-financial statement reports 95 olive mills certified under this protocol in seven countries in 2025. These are supplier facilities participating in the group’s own programme, not 95 Deoleo factories or 95 ISO 45001 certificates. Working with farmers provides a route to influence cultivation practices and quality at source. The disclosed scope describes participation in that network; hectares linked to the programme should not be presented as farmland owned by the group. Intertek: Deoleo Sustainability Protocol, PDF p. 12; Deoleo: non-financial and sustainability statement 2025, PDF p. 15; Deoleo: non-financial and sustainability statement 2025, PDF p. 154.
OSH policy and reported ISO 45001 coverage
The Global Integrated Policy, signed by the CEO in February 2025, sets out injury prevention, risk reduction and consultation with worker representatives. The 2025 non-financial statement reports ISO 45001 certification at Rivas, Alcolea and Tavarnelle, covering 428 workers, or 68% of the global workforce according to the report. This is specific coverage reported for that year. The reviewed sources did not provide the individual certificates needed to check their expiry dates and technical scopes in November 2026; this is therefore not presented as current group-wide certification. The sustainability information received limited assurance from EY, which is distinct from the financial statements audit. Deoleo: Global Integrated Policy, February 2025, PDF p. 4; Deoleo: non-financial and sustainability statement 2025, PDF p. 146; Deoleo: non-financial and sustainability statement 2025, PDF p. 204; Deoleo: non-financial and sustainability statement 2025, PDF p. 205.
Noise, ergonomics and factory responsibilities
Deoleo documents technical and organisational noise controls, including hearing protection, and awareness activities on ergonomics and physical health. Those sections provide neither job-specific exposure levels nor a quantified risk reduction. Carapelli Firenze’s documentation adds organisational detail: its July 2024 model requires implementation of controls identified in risk assessment documents, training of exposed personnel, assignment of prevention, emergency and first-aid roles, and supervision of protective equipment use. These are requirements in that Italian company’s model; they do not by themselves demonstrate effectiveness or provide an inventory of controls implemented across all subsidiaries. Deoleo: non-financial and sustainability statement 2025, PDF p. 146; Deoleo: non-financial and sustainability statement 2025, PDF p. 147; Carapelli Firenze: organisation, management and control model, 8 July 2024, PDF p. 51; Carapelli Firenze: organisation, management and control model, 8 July 2024, PDF p. 52.
Accidents and lost days: results and limitations
For its own workforce, the report declares four recordable accidents in 2025 —two involving men and two women— compared with three in 2024, and 128 days lost due to recordable accidents, health events or work-related deaths, compared with twelve. It reports no deaths from recordable accidents or work-related diseases in either year within that scope. The table presents frequency and severity indices with percentage symbols and formulas requiring clarification: the definition refers to lost-time accidents while the heading counts recordable accidents. These figures are not converted here into TRIR, LTIFR or individual probabilities. Nor is the absence of deaths attributed to complete control of all risks. Deoleo: non-financial and sustainability statement 2025, PDF p. 146; Deoleo: non-financial and sustainability statement 2025, PDF p. 147.
Workload, work–life balance and participation
Deoleo’s materiality assessment identifies a potential negative impact on health and quality of life from long hours or high workloads, particularly at production sites. The report describes training on stress and psychological wellbeing, work–life balance measures and adjustments for particularly vulnerable workers. The equality and LGTBI plans and anti-harassment protocol cited in the statement apply to Spanish workplaces. It also reports three works councils —two in Spain and one in Italy— without automatically equating them with dedicated OSH committees. Support measures do not establish that organisational risks have been eliminated. Deoleo: non-financial and sustainability statement 2025, PDF p. 133; Deoleo: non-financial and sustainability statement 2025, PDF p. 135; Deoleo: non-financial and sustainability statement 2025, PDF p. 136; Deoleo: non-financial and sustainability statement 2025, PDF p. 146.
Prevention at olive mills and suppliers
The protocol published by Intertek requires participating organisations to have prevention arrangements, follow-up of their prevention plan and records for the audited sample. The non-financial statement describes olive-mill training covering OSH, compliance and regenerative agriculture; for 2025 it records twelve workshops and 247 farmers in Spain, Portugal and Greece, without separating safety training hours. It also reports ESG questionnaires for co-packers and key auxiliary-material suppliers, and on-site audits of critical suppliers. A questionnaire alone does not demonstrate safe conditions at every facility. A digital monitoring tool was planned for 2026, so the 2025 report does not demonstrate its subsequent implementation. Intertek: Deoleo Sustainability Protocol, PDF p. 12; Deoleo: non-financial and sustainability statement 2025, PDF p. 152; Deoleo: non-financial and sustainability statement 2025, PDF p. 153; Deoleo: non-financial and sustainability statement 2025, PDF p. 154.
Carapelli Firenze’s customs litigation
The 2025 accounts describe Italian litigation over the inward processing regime applied to transactions in 2010–2012. Following an adverse second-instance ruling in November 2024, Carapelli received a €64.7 million payment demand in February 2025 and appealed to the Court of Cassation. The report records an instalment arrangement and a partial stay, neither of which amounts to dismissal of the case. The 5 November 2026 announcement provides for part of the sale consideration to be held in escrow against this contingency: up to €80 million assuming the transfer of 100% of Holding. This contractual maximum is neither a new fine nor the annual accounting balance. The matter is attributed to the subsidiary and the financial disclosures, without linking it to workplace accidents. Deoleo: audited consolidated accounts 2025, PDF p. 56; Deoleo: audited consolidated accounts 2025, PDF p. 57; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 1; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 2.
What this case offers an OSH reader
Sabentis’s editorial interpretation highlights three questions: which people and sites each system covers; how preventive activity, general training and outcomes differ; and how suppliers can be considered without mistaking their approval for verified control of every task. Deoleo’s documentation on noise, workload and Carapelli’s responsibilities provides more than a generic sector description. However, individual current certificates, job-specific exposure data and a breakdown of OSH training hours are still missing from the reviewed evidence. These limitations are not filled with assumptions or with the health properties of olive oil for consumers. Deoleo: non-financial and sustainability statement 2025, PDF p. 133; Deoleo: non-financial and sustainability statement 2025, PDF p. 145; Deoleo: non-financial and sustainability statement 2025, PDF p. 146; Deoleo: non-financial and sustainability statement 2025, PDF p. 147; Carapelli Firenze: organisation, management and control model, 8 July 2024, PDF p. 52.
Frequently asked questions
What does Deoleo do?
It selects, blends, bottles and markets oils and other food products through brands including Carbonell, Bertolli and Carapelli. It combines owned plants with external suppliers. Brands are not treated as independent companies, and worldwide rights across every product category are not assumed. Deoleo: non-financial and sustainability statement 2025, PDF p. 44; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 2. [1] · [2]
Have Acesur and Dcoop already acquired Deoleo?
As of 8 November 2026, a binding agreement announced on 5 November covers approximately 91.99% of Deoleo Holding, potentially increasing to 100%. Completion is conditional on regulatory approvals, a shareholder vote and a condition concerning Bertolli licences. It is not described as a completed transaction or as a direct purchase of all shares in the listed company. CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 1; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 2. [1]
What were the group’s revenue and profit in 2025?
The audited consolidated accounts record €820.946 million in net revenue and €19.700 million in profit. Of that profit, €9.396 million is attributable to the parent company and €10.304 million to non-controlling interests. The €520 million in the 2026 sale agreement is enterprise value, a different measure from revenue or earnings. Deoleo: audited consolidated accounts 2025, PDF p. 12; CNMV: Deoleo Holding sale agreement, 5 November 2026, PDF p. 1. [1] · [2]
How many employees and owned plants did it have?
The 2025 non-financial statement reports 634 employees at 31 December, plus eight non-employees, and two owned bottling plants: Alcolea and Tavarnelle. The 21 co-packers and the 95 olive mills participating in the Sustainability Protocol are not counted as owned factories. Deoleo: non-financial and sustainability statement 2025, PDF p. 143; Deoleo: non-financial and sustainability statement 2025, PDF p. 144; Deoleo: non-financial and sustainability statement 2025, PDF p. 44; Deoleo: non-financial and sustainability statement 2025, PDF p. 45; Deoleo: non-financial and sustainability statement 2025, PDF p. 154. [1]
What specific OSH evidence does it publish?
It documents noise controls and hearing protection, ergonomic awareness, attention to stress and work–life balance, and assessments for particularly vulnerable workers. For 2025 it reports four recordable accidents, 128 lost days and no deaths from recordable accidents or work-related diseases within its own workforce scope. Its 27,267 training hours cover general training, not specifically OSH. Deoleo: non-financial and sustainability statement 2025, PDF p. 133; Deoleo: non-financial and sustainability statement 2025, PDF p. 145; Deoleo: non-financial and sustainability statement 2025, PDF p. 146; Deoleo: non-financial and sustainability statement 2025, PDF p. 147. [1]
Is the whole of Deoleo ISO 45001 certified?
The 2025 report declares certification at Rivas, Alcolea and Tavarnelle, covering 428 workers and 68% of the workforce according to the company. It does not establish universal certification. The reviewed sources also lack the individual certificates needed to confirm expiry dates and technical scopes in November 2026. Deoleo: non-financial and sustainability statement 2025, PDF p. 146. [1]
