It’s one of Australia’s leading producers of table and extra virgin olive oil, with a multitude of awards under its belt.
But despite its success, the Australian Olive Company – a South Australian family-run business – is now for sale, giving a motivated buyer the opportunity to break into a growing health market.
The 7.1ha property, on Clayton Rd, Finniss, has been listed with Ray White Rural South Australia, via an expression of interest campaign.
Karl Chehade, who purchased the property with his father Karl Chehade Senior, some 15 years ago, said the decision to sell was made with a heavy heart.
“The business started in 1998 and we took it over a few years after that,” he said.
“For my father Karl Snr, this was a real passion, so together we took it from an orchard to a fully integrated olive enterprise
“Our product, especially our table oil, is the most awarded olive oil in the southern hemisphere, while our extra virgin oil is found in airlines and high end restaurants.
“So of course it’s sad to sell, but as we’re moving into the next generation, we decided that we’d like to pursuit opportunities in our other core businesses.”
Mr Chehade, who is managing director of third-generation dry cleaning service, Karl Chehade Dry Cleaning, said the sale would include two olive groves with approximately 17,000 trees, modern processing facilities, a preferred supplier for contract and toll processing, and an ongoing management program, if desired.
“Olives are a growing business in Australia, especially if you consider that we still import over 90 per cent of olive oil and products. That’s despite there being more than enough supply from Australian producers to meet demand,” he said.
“Our business, for example, has the potential to produce up to 500 tons of table oil per year.
“So, on an average year, 5kg of olives will produce, roughly, one litre of extra virgin olive oil.
“So there’s a lot of potential here.”
Expression of interest close Tuesday, November 26, at 2pm.