The investment led by a “major US-based institutional investor and existing investors,” is the largest equity investment funding in the domestic extra virgin olive oil industry, for which there is “insatiable consumer demand,” the company touts in release.
It explains that the “boost … will provide family farms with resources to plant more olive trees, and as a result, grow their business.” It also will enable California Olive Ranch to create more jobs in harvesting, production and administration, and expand its milling infrastructure throughout California to further streamline the production of affordable, premium extra virgin olive oil in the state.
California Olive Ranch’s expansion will not come at the expensive of the land. Rather, by focusing on regenerative agriculture, the company says the newly purchased plots will be fully sustainable – a value that is woven into the company’s philosophy.
“We believe that taking care of the Earth’s resources is the right thing to do – and leads to better olive oil,” the company explains on its website. As such, it says, “we mulch our fields with tree trimmings, reuse all of our water that enters our mill, offer our leftover olive pits to other farms and use recyclable packaging.”
These methods, combined with the new funds, will make it possible for the company to expand into organic extra virgin olive oil production, according to the announcement.