USA – Cobram Estate Olives (CBO), Australia’s leading olive oil producer, has successfully completed a A$175 million (US$115.69M) institutional share placement to fuel its ambitious expansion plans in the United States.
The placement, priced at A$3.20 (US$2.12) per share, attracted strong interest from both existing and new institutional investors.
In addition, the company aims to raise a further A$10 million (US$6.61M) through a non-underwritten share purchase plan.
The capital injection will be directed toward acquiring land and developing approximately 1,600 hectares of new olive groves in California, with the project slated for completion by 2027.
This move is part of CBO’s broader strategy to increase its total U.S. freehold land to 4,500 hectares, with planted grove areas expected to reach 3,600 hectares.
Once fully mature, these groves are projected to yield over 9 million litres of extra virgin olive oil annually, a dramatic leap from the current output of 0.5 million litres.
Co-founder and non-executive chair Rob McGavin expressed confidence in the U.S. market, stating that it holds “significant potential to replicate and ultimately surpass the success of our Australian business”.
The United States already accounts for more than a quarter of CBO’s olive oil sales, underscoring its strategic importance.
Financially, Cobram Estate Olives reported robust growth for the fiscal year ending June 30, 2025.
Revenue surged 22.1% to A$335.4 million (US$221.78M), while net profit after tax soared 168.1% to A$49.6 million (US$32.78M).
EBITDA climbed 74.8% to A$116.6 million (US$77.06M), with U.S. operations contributing A$6.6 million (US$4.36M), up 14.7% year-on-year.
Sales of Cobram Estate-branded products in the U.S. more than doubled to A$42.3 million (US$27.96M), representing 65.4% of total U.S. sales.
The company attributes this growth to strong brand performance and improved gross sales price per litre.
This strategic fund raise marks a pivotal moment for CBO as it scales its U.S. footprint and positions itself as a global leader in premium olive oil production.
With sustainability, quality, and innovation at its core, Cobram Estate is well positioned to redefine the olive oil landscape in North America.
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