`Australian Tycoon Backs Boundary Bend's Expansion to U.S.

Australia / NZ

Australian Tycoon Backs Boundary Bend's Expansion to U.S.

Jun. 10, 2014
Olive Oil Times Staff

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Wealthy Aus­tralian busi­ness­man Chris Cor­ri­gan has emerged as a key financier in efforts by Bound­ary Blend, the country’s largest olive oil group, to expand its busi­ness in the United States.

Bound­ary Bend Lim­ited exec­u­tive chair­man Rob McGavin

Accord­ing to the Syd­ney Morn­ing Her­ald, the for­mer man­ag­ing direc­tor of the Patrick Cor­po­ra­tion is believed to be con­tribut­ing about half of an esti­mated $10 mil­lion being raised by the olive oil grower and proces­sor, which sells its prod­ucts under the brand names Cobram Estate and Red Island.

This would not be the first time Cor­ri­gan has invested in the agri­cul­ture sec­tor; in recent years he has bought up stakes in the wal­nut and onions group Web­sters and the Aus­tralian Agri­cul­tural Com­pany via Kaplan Equity.

Bound­ary Bend is well known not only for its suc­cess in mar­ket­ing olive oil prod­ucts but for its inno­v­a­tive approach and con­tri­bu­tions to the field of research. Aus­tralian olive oil expert Richard Gawel praised the com­pany, say­ing “[Bound­ary Bend] have been instru­men­tal in putting afford­able, high qual­ity EVOO on Aus­tralian super­mar­ket shelves.”

After estab­lish­ing con­sid­er­able pres­ence in the Euro­pean mar­ket, the com­pany is now look­ing to repeat its suc­cess in the United States, the third largest con­sumer of olive oil in the world. Through the pro­posed expan­sion, Bound­ary Bend plans to set up a test­ing lab­o­ra­tory and pro­cess­ing facil­ity on Amer­i­can soil, where it rec­og­nizes a mar­ket with huge poten­tial and one that is counter-sea­sonal” to the Aus­tralian crop.

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We believe we can repli­cate, in the U.S., the suc­cess of our Aus­tralian inte­grated busi­ness,” Bound­ary Bend’s exec­u­tive chair­man Rob McGavin told share­hold­ers recently.

Bound­ary Bend was the win­ningest pro­ducer at the 2014 New York Inter­na­tional Olive Oil Com­pe­ti­tion, earn­ing three Gold and 2 Best in Class awards for its Cobram Estate brand.


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