Tomorrow (11 August) olive oil grower and producer of extra virgin olive oil, Cobram Estate Olives Limited (CBO) will be listed on the Australian Securities Exchange (ASX).
This is a chance for people, whether they’re interested in award-winning food brands or sustainable agriculture or watching their investments grow, to invest in an Australian-owned and grown company.
Chair and Co-Founder Rob McGavin says that since he and Paul Riordan founded the company in 1998, they’ve become the market leader in the Australian olive oil industry.
“Today we have more than 2.4 million olive trees planted in Victoria and, this year, we estimate we’ll produce 71% of Australia’s olive oil crop.
“Until now, the company’s shares were owned by founding shareholders including myself and Paul, family, friends , friends of friends and employees, many of whom have been investors for more than 20 years.
“With over 850 existing shareholders, listing on the ASX is a natural progression that will allow our investors better liquidity,” says Mr McGavin.
The company will continue its tradition of offering shareholders first access to limited release highest-quality olive oil such as “First Harvest” at shareholder prices.
A prospectus to support the company’s listing, which does not involve capital raising or sell down, can be viewed on the company’s website at cobramestateolives.com.au.
Mr McGavin continues, “As well as providing a liquid market for the company’s shares and offering additional financial flexibility to access capital markets and pursue growth opportunities, the listing has also provided the company with an opportunity to reward eligible employees with a gift offer of 500 shares in recognition of their incredible contribution over many years.”
The company’s success is said to be attributed to its fully integrated business model that takes a tree-to-table approach, with Cobram Estate Olives managing all aspects of the olive life cycle to ensure every bottle is of high standards.
Additionally, the company owns three olive mills and two bottling and storage facilities where it produces oil for its Cobram Estate and Red Island brands.
Sustainability & growth
“We are committed to operating our business in an environmentally sustainable way and are working to achieve zero-waste on our olive groves,” explains Mr McGavin.
“The company is well positioned for future growth. From 2017 to 2021, it invested over $200 million in operating expenditure and capital expenditure to support its medium- and long-term growth strategies, including growing its vertically integrated business in the USA.
“In the next 10 years, our fully productive Australian groves are set to increase by another 3000 hectares, largely from trees already planted.”
Interested investors should speak to their brokers or look for Cobram Estate Olives (ASX code: CBO) on the ASX from 11am on 11 August 2021.
