Victorian Olive Oil Project Limited
Victorian Olive Oil Project Limited (VOOPL) is a Victorian-based business that has developed a large state-of-the-art olive growing operation in the Boort region. It commenced operations in 2001 and currently has 511 hectares of olive trees under management. VOOPL based its business model on being a low-cost, high-quality producer and has proven its ability to achieve this goal.
The business was founded with two key principles in mind:
- Australia’s capacity to be a low cost producer of high quality extra virgin olive oil. VOOPL brought together the availability of quality land and water with the application of modern Australian broad acre horticultural practices to an industry which, in Europe, has been bound by traditional and inefficient production methods; and
- Demand for agricultural investment products that focused on positive cash flows to investors rather than immediate tax deductions.
The orchard is situated 14km west from Boort, a country town in the Mallee region, 252km north-west of Melbourne. The regional climate is typified by a long hot growing season with a cool winter which is comparable to the Mediterranean region which is well established as being suited for growing olive trees. Consequently, Boort is a major olive growing region in Australia – dubbed the ‘New Mediterranean’.
In 2007 VOOPL merged with Redisland Australia Limited (RLA) which was first established to become a key player in the emerging Australian olive oil industry. In a short period of operations RLA has:
- continued to operate the orchard with solid results despite difficult climatic conditions
- created a leading Australian olive oil brand
- established international markets for its oil
- built a quality controlled bottling facility with capacity for growth; and
- put in place a platform which can be leveraged into other food styles
RLA is listed on the Australian Stock Exchange to provide the financial capacity to act on opportunities presented by the emerging olive industry. The company now has leading technical and marketing teams and has developed the capacity to establish new olive grove projects, manage other olive groves and expand into new markets.