Two Mediterranean Olive Oil Families Form an Alliance
"We believe this joint effort will help make the Pompeian brand even stronger in the years ahead," stated company leader, Baldo Moreno. "I am very pleased that by reaching across the waters of the Mediterranean so that we can enhance our prospects in America."
10/03/09 Over 90% of all the olive oil in the world comes from groves in the Mediterranean region. Now two of the most prominent families from the region, Devico and Moreno, have formed an alliance to bring more high quality olive oil to the United States and the world.
Among the key beneficiaries of the alliance is Pompeian, Inc. of Baltimore which began importing the product in 1906 and has been owned by the Moreno family since 1975. Pompeian, which is recognized as the first national brand of olive oil in America, is among the best selling brands in the country and a major innovator with new products such as OlivExtra Plus with Omega-3 DHA.
The Morenos are leaders in food producing in Spain and are well known for the Musa brand of mayonnaise and condiments. In addition, they have gained renown in the country's retail industry based on their lumberyards and building supply centers. Spain is the top producer of olive oil in the world, so it was natural for the Moreno family to get into the business. Their acquisition of Pompeian proved to be most timely, shortly before the Mediterranean Diet began to catch hold in America, both in culinary and healthful-eating terms.
The Devico family also has been involved in olive oil for decades through the Aicha brand. Based in the city of Meknes, Aicha is a leading brand in Morocco. Chairman Mardochee Devico developed a vertically integrated model that has lead the group into becoming the largest tomato and olive growers in the country with more than 7,000 acres of olive groves. His vision has helped make the nation become one of the top seven olive oil producing countries. David Bensadoun, a member of the Devico family who has been in the U.S. for 10 years, will be overseeing other family operations here.
"We share with the Moreno family a similar commitment to outstanding quality and a belief in creating greater consumer value through technological innovation and efficiency," stated Bensadoun. "Our family is very excited to be exploring with them new opportunities for growth in the United States."
"We believe this joint effort will help make the Pompeian brand even stronger in the years ahead," stated company leader, Baldo Moreno. "I am very pleased that by reaching across the waters of the Mediterranean so that we can enhance our prospects in America."
Pompeian's CEO William C. Monroe and his team welcome the alliance, "I have known David and Baldo for many years, and this initiative comes at the perfect time, as we look to our path of growth," stated Monroe. "Among future projects being planned are a West Coast olive oil storage and bottling facility that will create production and distribution efficiencies, as well as the continued expansion of our current facility in Baltimore."
