Bunge And Olleco To Form JV - Quick Facts

(RTTNews) - Bunge (BG) and Olleco, the renewables division for ABP Food Group, announced an agreement to form a 50/50 joint venture to create a business that encompasses the full life-cycle of edible oils. Headquartered in Amsterdam, the partnership is expected to leverage Bunge's customer relationships, footprint and global expertise in vegetable oil production and Olleco's model in the supply, collection and conversion of cooking oils.

The companies said the joint venture is expected to work with foodservice and food manufacturing customers in Europe - excluding UK and Ireland - to supply oils and ensure the used cooking oil is efficiently collected and used as a feedstock in the production of renewable fuels.