Fresh Del Monte Produce Inc. has acquired a majority stake in Ugandan avocado oil supplier Avolio as part of its strategy to expand into high-value specialty ingredients. The financial details of the deal were not disclosed.
Avolio, founded in 2021, processes bulk crude and cold-pressed avocado oil at its facility in Kampala, with a current capacity of 3,000 litres per day. The acquisition will allow the company to scale up extraction to process 140 tonnes of avocados daily.
The move aligns with Fresh Del Monte’s focus on maximising supply chain value and sustainability. The company’s Biomass and Specialty Ingredients division, launched in 2024, is focused on converting agricultural byproducts into commercial applications, including soil health and wellness solutions.
Fresh Del Monte recently appointed Deema Anani as chief commercial officer for its Specialty Ingredients division. She joins a leadership team that includes Nizar Haddad, director of innovation and business development, and Imad Farhat, senior vice president of specialty ingredients, to drive growth in this segment.