Fresh Del Monte Produce Inc. has announced the acquisition of a majority stake in Avolio, a Ugandan supplier of bulk crude and edible avocado oil. The move marks the company's entry into the avocado oil market and aligns with its broader initiative to expand into specialty ingredients.
© Fresh Del Monte
The acquisition will enable Fresh Del Monte to convert avocados—particularly those unsuitable for sale as whole fruit—into avocado oil. This approach supports efforts to reduce food waste while exploring new product categories. Avolio's existing operations focus on extracting oil from avocado pulp, a characteristic that distinguishes avocados from many other fruits.
According to Fresh Del Monte, the investment in Avolio is intended to support its long-term strategy of developing specialty ingredients and reducing waste in its supply chain. The company also aims to integrate this new capability with its existing operations focused on agricultural byproducts and resource efficiency.
The processing capacity of Avolio's technology is expected to scale up to handle 140 metric tons of avocados per day. Fresh Del Monte's global supply chain infrastructure will be used to support this expansion and facilitate broader market access for avocado oil products.
The global avocado oil industry is currently valued at around $1.2 billion and is projected to grow at an annual rate of 8% to 10%, according to Fortune Business Insights. In response to rising demand, Fresh Del Monte plans to explore additional production sites and expand its processing capabilities.
The acquisition signals continued interest from multinational produce companies in diversifying product portfolios through value-added ingredients and upcycled agricultural products.
© Fresh Del MonteFor more information:Claudia Pou
Fresh Del Monte Produce
Email: communications@freshdelmonte.com
www.freshdelmonte.com