Solum Partners Announces Sale of California Olive Ranch to Cobram Estate Olives

Landmark Transaction in the North American Premium Olive Oil Sector Unites Two Industry Leaders

BOSTON--(BUSINESS WIRE)--Solum Partners, a specialist investment firm focused on vertically integrated food and natural capital businesses, today announced the sale of its portfolio company, California Olive Ranch (COR) to Cobram Estate Olives (ASX:CBO), one of the world's most recognized producers of extra virgin olive oil.

Founded in 1998, California Olive Ranch has grown to become the leading brand of domestic extra virgin olive oil in the United States, celebrated for its commitment to freshness, quality, and transparency. Under Solum's stewardship, COR significantly expanded its retail footprint, deepened its supply chain capabilities, and strengthened its brand position as the preferred choice for quality-conscious American consumers.

Cobram Estate Olives, headquartered in Australia with a significant operational presence across both the Southern Hemisphere and the United States, brings world-class olive growing expertise and a shared commitment to premium, fresh olive oil. The combination of California Olive Ranch and Cobram Estate is expected to create a global powerhouse in the extra virgin olive oil category.

"California Olive Ranch is an exceptional brand built on an unwavering dedication to quality and a genuine connection with its customers," said Daniel Sachs, Partner at Solum Partners. "When we invested in COR, we saw a tremendous opportunity to scale a category leader that was already redefining what American consumers expect from olive oil. We are proud of what the team has built, and we are confident that Cobram Estate is the ideal partner to carry that mission forward on a global stage. This transaction is a testament to the strength of the brand and the talent of the people behind it."

During Solum's ownership, California Olive Ranch achieved significant milestones, including:

• Becoming the first North American olive oil company to be Certified Regenerative by A Greener World, recognizing its commitment to soil health, biodiversity, and sustainable farming practices.
• Expanding national distribution across major retail, grocery, and e-commerce channels.
• Diversifying the portfolio with the introduction of new product lines and flavor profiles.
• Building one of the highest repeat purchase rates in the cooking oil segment, with consumers demonstrating strong brand advocacy.

The Solum Partners team expressed gratitude for the partnership forged with the COR team over the course of the investment. "It has been a true privilege to work alongside the California Olive Ranch team," added Sachs. "The dedication, passion, and professionalism they bring to everything they do made this an incredibly rewarding partnership. We look forward to watching the platform continue to thrive in the years to come.”

Harris Williams acted as exclusive financial advisor to California Olive Ranch, with Stoel Rives and Kirkland & Ellis serving as legal counsel.

About California Olive Ranch

California Olive Ranch is the #1 selling brand of domestic extra virgin olive oil in the United States. Founded in 1998 and headquartered in Chico, California, COR is committed to producing fresh, high-quality olive oil from grove to bottle through sustainable practices.

For more information, please visit www.californiaoliveranch.com.

About Solum Partners

Solum Partners invests thematically across the fresh produce and food supply chain with a focus on vertical integration and active, hands-on management. Supported by an expansive global network and decades of industry experience, Solum is committed to being a partner of choice for institutional investors and industry leaders in natural capital industries. The firm is headquartered in Boston, Massachusetts, with over $2 billion in assets under management.

For more information, please visit www.solumpartners.com.

About Cobram Estate

Founded in 1998, Cobram Estate Olives (ASX: CBO) is a global leader in sustainable olive farming with a fully integrated "tree-to-table" model spanning growing, milling, and bottling. Since establishing its US headquarters in Woodland, California in 2015, Cobram has grown to over one million olive trees across California, with distribution through major US retailers. Cobram Estate® is Australia's most awarded extra virgin olive oil and a recognized global benchmark for quality and integrity.

For more information, please visit www.cobramestateolives.com.au/.