The acquisition will create by far the largest olive oil producer and seller in the United States by revenue, more than doubling Cobram Estate’s California footprint.
The company plans wider distribution and stronger marketing as it works to grow beyond its core regions.
Olive oil remains the top food export, but earnings slip despite higher volumes.
Threats around the Strait of Hormuz raise energy costs and ripple through oilseed markets.
The proposal includes the acquisition and development of approximately 14,000 hectares for plantations and associated agro industrial activities.