Gulf Capital invests $22m in Tunisian firm

Abu Dhabi: Gulf Capital yesterday announced it has invested $22 million (Dh80 million) in CHO Company, a global producer and exporter of organic and natural olive oil based in Tunisia.

The deal marks the seventh investment for Gulf Capital from its $251 million second private debt fund and its first investment in Tunisia.

“This transaction will help CHO Company further expand its operations throughout the olive oil production value chain. It is a perfect example of the flexible structures that our private debt platform offers to growing companies in emerging markets,” said Christopher Foll, Senior Managing Director, Private Debt at Gulf Capital in a statement.

CHO Company is one of the largest producers and exporters of olive oil in Tunisia, accounting for more than 50 per cent of the country’s branded olive oil exports.

Acquiring olive oil from Tunisian farmers and through its own olive groves, the company is known for its organic extra virgin olive oil production and exports. Terra Delyssa is one of the company’s exclusive brands that is exported to blue-chip retailers across Europe and North America.

“Gulf Capital’s funding will further support our integration plans, through expanding our olive grove plantations across Tunisia. We are fully committed to growing Terra Delyssa’s presence and reach new markets globally,” said Abdelaziz Makhloufi, Founder and Chairman of CHO Company.