Global law firm DLA Piper has advised Cobram Estate Olives Limited (ASX: CBO), Australia’s largest vertically integrated olive oil producer, on its AUD175 million institutional placement and associated share purchase plan to raise up to a further AUD10 million, enabling the company to accelerate its United States (US) growth strategy.
The transaction is expected to enable Cobram Estate Olives to acquire and develop up to an additional 1,600 hectares of olive groves in California, expanding its US footprint to ~3,600 hectares by the end of 2027. At full maturity, the groves are expected to produce ~9 million litres of olive oil annually, positioning Cobram as a major player in the fragmented US market.
The DLA Piper team was led by Corporate partner David Holland, with support from special counsel Rosa Sayer.
Commenting on the transaction, David Holland said: “This is a significant milestone for Cobram Estate Olives, which not only accelerates their US growth strategy but also strengthens their position as a leading vertically integrated olive oil producer. The transaction reflects the company’s commitment to sustainable expansion and demonstrates confidence in their operational model across both hemispheres.”