Australia's Cobram Estate Olives (CBO) has received commitments for funding of A$175m ($115.6m) to fund its US expansion.

CBO said it had completed a share placement with institutions priced at A$3.2 per share.

The company plans to raise an extra A$10m through a non-underwritten "share purchase plan".

In a statement yesterday (9 September), the producer of the Cobram Estate olive-oil brand said the funds will be directed towards buying land on which it would develop around 1,600ha of olive groves.

CBO aims to be complete the project by the end of 2027.

Non-executive chair and co-founder Rob McGavin said the company sees “significant potential” for the US "to replicate – and ultimately surpass – the success of our Australian business”.

CBO wants to grow its total freehold land in California to approximately 4,500ha, with planted grove areas expected to increase to around 3,600ha.

At full maturity, the groves are anticipated to yield more than nine million litres of extra virgin olive oil a year. At present, the company’s US groves produce 0.5 million litres per year.

The US has become increasingly significant for CBO, accounting for over a quarter of its olive oil sales.

For the 12 months ended 30 June 2025, the company’s revenue increased by 22.1% to A$335.4m.

CBO reported a net profit after tax of A$49.6m, a substantial increase of 168.1% from FY2024.

The company’s EBITDA increased by 74.8%, to A$116.6m.

In FY2025, CBO's US operations reported an EBITDA of A$6.6m, marking a 14.7% increase from the previous year.

CBO attributed the growth to “strong” sales of Cobram Estate branded products, leading to an increase in the overall gross sales price per litre.

Sales of Cobram Estate products in the US more than doubled to A$42.3m, up from A$21m in FY2024, accounting for 65.4% of total US sales.

"Cobram Estate Olives completes share issue to fund US expansion" was originally created and published by Just Food, a GlobalData owned brand.

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