The Italian-Founded Olive Oil Brand That's Actually Owned By The Chinese Government

We may receive a commission on purchases made from links.

Italian olive oil has one heck of a reputation. When you say those three words, people picture romantic Tuscan sunsets and generational family businesses hand-harvesting their olives. These sorts of artisanal olive oil mills still exist, but for the largest producer of Italian olive oil, Salov, the reality is a little different. Originally a family-owned business, today, this Italian company is owned by the Chinese government.

Specifically, the controlling stake of Salov is now owned by Bright Food Group, a Chinese state-owned food conglomerate. In 2014, they purchased the company for an undisclosed amount of money. If you've ever purchased a bottle of Filippo Berio Pure Olive Oil from Amazon or your supermarket shelf, you've bought one of the many products from the Bright Food Group.

So why would a Chinese conglomerate care about Italian olive oil? Well, according to the group's own words published on Reuters, China is getting richer. That means millions of Chinese consumers are now actively seeking healthier, more premium foods — the Mediterranean diet kind of stuff. For Bright Food, Salov looked like a golden ticket to tapping into this audience.

Salov has been around since 1867 and the company is still headquartered in the quaint town of Massarosa, in the heart of Tuscany. But unlike the town they operate from, Salov's operation was anything but "quaint" — today, the company's making 370 million euros and producing 120 million liters (31.7 million gallons) of olive oil yearly, with its products reaching the markets of about 70 countries (Salov).

Behind Bright Food's deep pockets is the Shanghai municipal government — they're a state-owned enterprise with serious reach. In 2014 alone, they were posting annual revenues north of $19 billion. But money is only part of the story. That year, they were actively buying up food companies across the Western world: Weetabix in the U.K., Manassen Foods in Australia, and a slew of others. So, by the time they acquired Salov, the news didn't come as a surprise to avid market watchers.

With that said, though, what does this mean for the average consumer who's just looking for a good bottle of olive oil to dip breads with? Well, not much. The change in ownership happened years ago and Salov's products are still on the market. It's just that the final decision-making no longer takes place in Italy, but in a Shanghai-based office building.