CORAL GABLES, FLA. — Fresh Del Monte Produce Inc. has acquired a majority stake in Avolio to continue its initiative to expand into high-value specialty ingredients. Financial terms of the acquisition were not disclosed.

Avolio, Kampala, Uganda, was established in 2021 and is a supplier of bulk crude and cold-pressed avocado oil.

“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 Mohammad Abu-Ghazaleh, chairman and chief executive officer of Fresh Del Monte. “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. These efforts not only reinforce our environmental stewardship, but also position us to compete in higher-margin categories that drive profitable growth and long-term shareholder value.”

Avolio said it processes its avocado oil in its facility in Uganda, which can process over 3,000 liters of oil daily.

The acquisition will enable Avolio to scale its extraction process to 140 tonnes of avocados per day.

Fresh Del Monte recently named Deema Anani as chief commercial officer for its Specialty Ingredients business unit earlier this month.

Deema joined the company from Queen Ali International Airport’s Airport International Group, where she most recently was chief commercial officer. Anani was hired to oversee commercial growth for the company’s Specialty Ingredients and Innovation.

Anani; Nizar Haddad, PhD, director of innovation and business development at Fresh Del Monte; and Imad Farhat, PhD, senior vice president specialty ingredients at Fresh Del Monte, will all work together and form the team leading Fresh Del Monte’s Biomass initiative, which launched in 2024.