`Australian Tycoon Backs Boundary Bend's Expansion to U.S. - Olive Oil Times

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.

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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