Acesur, an international olive oil company in operation since 1840, announced it will be opening a new manufacturing site in Suffolk, Virginia. Governor Ralph Northam boasted that the new business is projected to bring $11 million and 29 new jobs to the state.
“Virginia has a strong workforce and a world-class transportation network that allows businesses to easily import and export their products through the Port of Virginia,” the governor said in his official statement. “These and other advantages continue to attract global companies that want to launch in the United States, and I welcome Acesur USA to the Commonwealth.”
Acesur will benefit from a $120,000 grant from the Commonwealth Opportunity Fund overseen by the governor. Joseph Fairchild, the vice president of operations and director of purchasing at Acesur USA LLC suggested the deciding factors for the company’s decision included, “market proximity, progressive infrastructure investment, as well as the Port of Virginia’s proximity to the plant.”
Headquartered in Spain, Acesur is a company with vertically integrated holdings and interests up and down the olive oil supply chain. The company manages the production, refining, bottling, marketing and exportation of olive oil in addition to other vegetable oils and condiments. They own several popular food brands including Italica, La Española, Hacienda Guzmán and Villa Blanca.
Acesur first began exporting to the United States in 1975, though the Suffolk facility will be their first permanent holding of its kind in North America.
The new olive oil facility will manage imports from Argentina, Australia and Spain under the banner of Acesur’s US subsidiary. Virginia had been in competition with North Carolina for this plant, but the Old Dominion State ultimately won the day.
Suffolk Mayor Linda T. Johnson said about Acesur and their decision to come to Suffolk, “We are confident that their well-respected international presence will be a complementary blend with our skilled workforce and favorable business environment.”
Related Articles
Jul. 20, 2024
Trade Commission Extends Tariffs on Spanish Black Olives
The decision came two months after the U.S. Court of Appeals ruled in favor of the Commerce Department’s tariffs.
Oct. 18, 2024
European Union Olive Oil Production Set to Grow by One-Third
Brussels’ autumn short-term outlook predicts volatile prices.
Nov. 20, 2023
Finding Balance in a Changing Sector Yields Success for Portuguese Exporter
Quality serves as Est. Manuel Silva Torrado’s north star as the company navigates export markets and the country’s rapidly changing sector.
Dec. 18, 2023
Tunisia Takes Measures to Lower Olive Oil Prices at Home as Export Revenues Fall
Low fixed prices for Tunisian bulk exports to Europe mean Tunisian farmers are not benefiting from the surge in global olive oil prices.
Oct. 17, 2024
Major Olive Oil Producer Loses $3M in Spate of Thefts
The CHO Group experienced warehouse thefts in Canada and the United States, with some stolen olive oil appearing at discounted prices.
May. 7, 2024
European Olive Oil Supply Hits Decade-Low
A production drop and low stocks have kept prices high, tempering demand.
Mar. 22, 2024
The Growing Pains of Albania’s Ascendant Olive Oil Sector
Production has doubled in the past decade and is expected to continue to rise. Some worry that quality will not follow suit.
Sep. 5, 2024
Spanish Producers, Policy Makers Explore Strategies for Success in Chinese Market
From an emphasis on quality and terroir to smaller packaging formats, Spanish olive oil sector stakeholders identified several strategies to increase olive oil consumption in China.