UGANDA – Fresh Del Monte Produce Inc. has acquired a majority stake in Avolio, a Uganda-based supplier of bulk crude and cold-pressed avocado oil.
The acquisition aligns with the company’s strategy to expand into high-value specialty ingredients, utilizing agricultural byproducts to create new market opportunities.
Avolio, founded in 2021, operates an avocado oil processing facility in Kampala with a current capacity of 3,000 liters per day.
The acquisition will enable Fresh Del Monte to scale Avolio’s operations significantly, targeting a daily processing capacity of 140 metric tons of avocados. The move supports the company’s initiative to diversify its product portfolio while enhancing resource efficiency within its supply chain.
Focus on sustainability and value addition
The ability to extract oil from avocado pulp presents an opportunity to maximize the value of fruit that does not meet the standards for whole fruit sales.
Fresh Del Monte’s strategy involves reducing food waste and advancing sustainability efforts by repurposing avocados into specialty ingredients such as avocado oil. This approach aligns with its commitment to the circular economy, which emphasizes minimizing waste and maximizing resource efficiency.
“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, Chair and CEO 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.”
Scaling avocado oil production
The avocado oil market is witnessing strong growth, currently valued at approximately US$1.2 billion and projected to expand at an annual rate of 8% to 10%, according to Fortune Business Insights.
In response to increasing demand, Fresh Del Monte plans to expand production capacity and explore opportunities for additional processing sites.
Fresh Del Monte’s established supply chain infrastructure will facilitate market access and distribution for Avolio’s avocado oil products.
By integrating Avolio’s oil extraction technology with its global logistics capabilities, the company aims to enhance efficiency and optimize avocado oil production for international markets.
Strengthening market position in Africa
With this acquisition, Fresh Del Monte becomes a key player in Africa’s growing avocado oil industry, joining companies such as Olivado and Westfalia Fruit, which have pioneered innovative extraction technologies and sustainability initiatives in Kenya and South Africa.
Africa’s avocado sector has seen increasing investment in recent years, driven by the rising demand for avocado-based products in global markets.
Fresh Del Monte’s expansion into the region highlights the continent’s growing importance in the global supply chain for high-quality avocado oil.
The company’s investment in Uganda positions it to capitalize on Africa’s potential as a leading producer of avocado oil while contributing to the development of sustainable agricultural practices in the region.
New leadership for specialty ingredients division
As part of its push into specialty ingredients, Fresh Del Monte recently appointed Deema Anani as Chief Commercial Officer for the 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. Their collective expertise is expected to drive growth and innovation in this emerging segment.
