FMO proposes funding for Tunisian olive oil producer

Dutch development bank FMO intends to commit up to €12 million in a long-term facility for CHO Company, an olive oil bulk trader based in Tunisia.

Established in 1996, CHO is currently one of the largest Tunisian olive oil producers, bottlers and exporters. CHO was created by three entrepreneurs, Abdelaziz Makhloufi, Moncef Rekik and Mohamed Tounsi. The original founders still own most of the shares of the company. The company has vertically integrated operations, from orchards and olive fields to mills, refineries, pomace extraction units, an accredited laboratory, cosmetics and detergents production units, and state of the art packaging facilities.

The proposed transaction will finance permanent working capital and capital expenditures to support the company’s strategy to increase its sales of bottled olive oil.

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