Cobram Estate Olives (ASX:CBO) has signed a binding agreement to acquire California Olive Ranch, the leading producer and marketer of Californian extra virgin olive oil.
The acquisition nearly doubles CBO’s Californian olive-growing footprint and strengthens its presence in the US market.
COR operates a vertically integrated business, managing 1,870 hectares of groves in California, supplemented by over 2,500 hectares of contracted third-party groves.
It owns a modern olive mill, storage, bottling, and warehouse facilities, and markets two premium EVOO brands, including California Olive Ranch, the top-selling Californian EVOO in the United States.
COR is forecast to generate US$150 million in net revenue and US$16 million in EBITDA in FY2026 (pre-synergies).