Cobram Estate to buy California Olive Ranch, will become state’s largest producer
Australian olive oil producer Cobram Estate Olive, which has significant operations in Woodland, is currently in the process to buy Chico-based California Olive Ranch for $174 million.
The deal, announced in December, is under review by the U.S. Department of Justice as it conducts a longer review of the transaction’s potential antitrust issues. A news release from Cobram Estate indicates it expects the deal to be approved by March 12. Settlement would occur within two weeks of the approval.
The acquisition is not unexpected. The two companies began discussions when Cobram Estate, then known as Boundary Bend, made its first forays into the California olive oil market in 2014.
Cobram Estate is Australia’s largest olive oil producer and has grown its presence in California since entering the market. For the 2025-2026 season, the company said it produced 3 million liters of California-grown olive oil.
California Olive Ranch is the largest producer of California-grown olive oil. The acquisition will more than double Cobram Estate’s growing footprint in the state. The merger will make Cobram Estate by far the largest olive oil producer and seller in the United States by revenue.
“This merger creates a trans-Pacific powerhouse that underscores the global nature of our industry. We hope it will signal a chance to bring the industry further together to pursue common goals,” said Joseph Profaci, executive director of the North American Olive Oil Association.
The company is continuing to look for additional growth options. Already, Cobram Estate has acquired over 7,000 acres of farmland for olive production, including 350 that had been used for almonds, according to the Sacramento Business Journal. Further oversupply of almonds and winegrapes in the state may present opportunities for the company to introduce new olive production in those areas.
This story was originally published February 27, 2026 at 2:00 PM.
