Cobram Estate Olives buys US olive-oil firm California Olive Ranch

Australia’s Cobram Estate Olives (CBO) has agreed to acquire California Olive Ranch, the US-based olive-oil firm. The deal follows CBO’s $115.6m share issue in September to finance its expansion in the US. At the time, the producer of the Cobram Estate olive-oil brand said the funds would be directed towards buying land on which it would develop around 1,600ha of olive groves. Cobram Estate will pay $173.5m to buy COR. The consideration includes $88.5m in cash, $70m in vendor notes, and a $15m earn-out ...