New joint venture between Olio Dante and Sovena

The Portuguese olive oil giant Sovena and the Benevento, Italy-based company Olio Dante have finalised a joint venture (Sovena Italia) aimed at developing private label production for the international marketplace. The operation will benefit the Olio Dante plant, currently suffering from overcapacity, and aid the recovery of the parent company Oleifici Mataluni, which also owns the brands Topazio, Olita and Oio and closed 2016 in significant debt.

The turnover generated in export markets through the Sovena’s international distribution channels is expected to cover the company’s financial debt. With a turnover of around €2 million, Sovena sells 200,000 tonnes of olive oil a year along with other kinds of edible oils in more than 70 countries worldwide.