Fresh Del Monte Acquires Avolio To Expand Into Avocado Oil Market

Benzinga·03/26/2025 15:06:18

Listen to the news

Fresh Del Monte Produce Inc. (NASDAQ:FDP), a global producer, marketer and distributor of fresh produce, has acquired Avolio, Uganda's leading provider of bulk crude and edible avocado oil.

Through this move, Fresh Del Monte will secure a majority ownership stake in Avolio, further advancing its strategic goal of expanding into high-value specialty ingredients.

The acquisition enables Fresh Del Monte to capitalize on Avolio’s advanced avocado oil extraction technology, converting avocados into high-quality oil.

Also Read: Dollar Tree To Offload Family Dollar Business For $1 Billion, Anticipates 3% To 5% Standalone Same-Store Sales Growth

This move is intended to drive growth within the company's Specialty Ingredients and Innovation sector. Since avocados are one of the few fruits that yield oil from the pulp, Fresh Del Monte can create value from avocados that cannot be sold whole.

The company plans to scale Avolio’s technology, which can process up to 140 metric tons of avocados per day. Fresh Del Monte held $32.6 million in cash and equivalents as of December 27, 2024.

“Acquiring Avolio is a strategic step aligned with our long-term vision to extract greater value across our supply chain while advancing our commitment to sustainability,” said chairman and CEO Mohammad Abu-Ghazaleh.

“It complements our newest business division — biomass and specialty ingredients — through which we are transforming agricultural byproducts into high-impact solutions that enhance soil health, support human wellness, and create new applications for a circular economy.”

The avocado oil market is growing rapidly. It is currently valued at $1.2 billion and, according to Fortune Business Insights, will grow at an expected compound annual growth rate (CAGR) of 8% to 10%.

As part of its strategy to capture a larger share of this market, Fresh Del Monte plans to increase production capacity and develop additional facilities to meet the rising global demand for avocado oil.

Price Action: FDP shares traded higher by 0.27% at $29.28 at last check on Wednesday.

Photo: Shutterstock

FAQ

Fee Schedule Open Account Deposit & Withdrawal Trading

Terms & Conditions

Client Agreement Privacy Policy Data Disclaimer Security Tips

About Webull

About us Webull Promotions Contact information Announcements

Service Email : service@webull.hkBusiness Cooperation : marketinghk@webull.hk

Risk Disclosure: The content of this page is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. All investments involve risk and the past performance of securities, or financial products does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing. For more details, please refer to risk disclosure.
① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.

Language

English