BELL-CARTER FOODS ANNOUNCES ACQUISITION BY THE ESCALANTE FAMILY OF AG OLIVES

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Two Families of Veteran Olive Growers Partner to Drive US Market Growth, Strengthen Grower Contracts and Make Investments in California Production Facilities

WALNUT CREEK, CA., September 8, 2022 /PRNewswire/ — The Escalante family, owners of Aceitunas Guadalquivir (AG Olives), one of the world’s premier olive companies and a recognized industry leader in sustainable technology and practices, today announced the acquisition of Bell-Carter Foods, LLC, a leading manufacturer of table olives in United States. Bell-Carter Foods’ current management team, led by the fourth-generation CEO, Tim T. Carterwill continue to lead the family business founded 110 years ago under the same name.

The acquisition provides for the continued leadership of Bell-Carter Foods and its nearly 300 employees, the adoption and maintenance of all California contracts with producers and the effective execution of the growth plans envisaged by the company in California anchored in its five fundamental values: family, teamwork, trust/respect, continuous learning and spirit of service.

Financial terms of the transaction are not disclosed. As part of the agreement, Dcoop, a former partner of Bell-Carter, will own a minority stake in Bell-Carter Foods, continuing to bring value to Dcoop’s cooperative members.

The agreement further fulfills Bell-Carter Foods’ long-standing commitment to its U.S.-based employees, nationwide retail customers, loyal Lindsay brand consumers and its manufacturing facility, located at Corning, California. During the first weeks following the acquisition, investments will be made in the facility, which includes advanced olive cookers, an expanded warehouse and new production lines – which will help the company meet the growing demand for all shapes and varieties of Lindsay brand olives. transformed and packaged into California. Bell-Carter’s growth strategy and Corning the investment plans will be supported by AG Olives CEO Francisco “Paco” Escalante, as Carter and his current management team continue to lead the company’s operational and business missions.

Continuing a longstanding commitment to its home state, the acquisition allows Bell-Carter Foods to maintain all active contracts with growers and strengthens its commitment to its Californiabased on producers. The Bell-Carter Foods network now includes more than 80 growers on 3,000 acres across Tehama and Tulare counties. In the past year alone, Bell-Carter Foods has signed multi-year contracts with its Californiaand contracts extended to 25 new producers.

“As fourth-generation CEO, I feel a deep sense of pride and responsibility in preserving Bell-Carter Foods’ rich heritage and securing its bright future,” said Tim T. Carter, CEO of Bell-Carter Foods. “Our alliance with Les Escalantes, another leading family in the olive sector that shares our same set of values, is representative of the trust our long-time partner places in our employees, customers and grower partners, and the unwavering mission to be the best and most respected table olive producer in California.”

More than just a smart business, this acquisition represents a deeper relationship between two successful families – the Carters and the Escalantes – who together have brought growth and innovation to the U.S. olive sector for over 30 years. year. Since 1991, Bell-Carter Foods has sourced potted green table olives from the AG Olives plant in Seville, Spainand share this high quality specialty product with consumers across the United States. The investments that are part of this acquisition will help Bell-Carter expand its ability to bring even more mature olive innovation, reliable supply and growth to the table olive industry in the United States. WE

“With our dedicated employees from our head office in Walnut Creek and our factory Corningour valued domestic producers of Californiaand together with the Escalante family, I am excited about the new growth that our company and the U.S. table olive industry will enjoy in the decades to come,” Carter said. “One thing will not change: our continued, focused commitment to family to our employees, sourcing and producing the highest quality, best tasting table olives, and driving innovation in the table olive category.”

“Our partnership with Bell-Carter Foods may seem new to some; however, our strong relationship with the company spans three decades,” said Escalante, the family’s second-generation CEO. “Our investment in Bell-Carter Foods demonstrates our company’s shared passion for creating and delivering the perfect olives that enhance meals and create new taste experiences. We look forward to working closely with Tim and his team.” exceptional team of dedicated table olive artisans to use our investments in production facilities in the United States to help grow the Lindsay brand and provide consumers with even more ways to enjoy the world’s finest olives on their tables.”

“Bell-Carter Foods’ strong track record of providing our retail customers with the highest quality, most reliable supply, and competitively priced table olive products has been achieved in part through our long-standing relationship with AG Olives,” Carter revealed. “With this new investment, Bell-Carter is now in an even stronger position to ensure our U.S. production facilities stay ahead of the retail and consumer demand we are seeing for high-quality table olive products. quality, innovative and at the best value for money.”

For more information about Bell-Carter Foods, LLC, please visit bellcarter.com and ilovelindsay.com. For more information about AG Olives, please visit agolives.com/en.

About the Escalante Family | agricultural olives

The Escalante family has been deeply involved in the olive industry and the table olive sector for over 60 years. The family owns and operates AG Olives – one of the world’s largest table olive companies headquartered in Seville, Spain. Founded in 1962 by Francisco Escalante RiveraAG olives is now run by his son Francisco (Paco) Escalante. Since its foundation, AG Olives has brought together the best of tradition with the most contemporary production, packaging and distribution processes, placing the company at the forefront of the Andalusian agri-food sector and at the forefront in the areas of vertical integration, sustainability and global innovation.

About Bell-Carter Foods

Founded in 1912, Bell-Carter Foods is the largest producer of table olives in the United States and the second largest in the world. Family owned and operated for over 100 years, the Californiafocused on providing innovative, top-notch olive products and the absolute best service in the industry. The company’s core values ​​- family first, teamwork, trust and respect, continuous learning and service – have fueled the company’s reputation as the ideal partner for retailers and food service organizations. With nearly 300 employees across its Walnut Creek headquarters and its expanding production facility in Corning, CaliforniaBell-Carter Foods has become a recognized industry leader, selling and marketing domestic olives, imported olives and specialty olive-related products under the Bell-Carter Foods, Private Label and Lindsay brands.

SOURCE Bell-Carter Foods

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