Colavita acquires California-based O Olive Oil & Vinegar

Kimberly Redmond//April 11, 2023//

Olive oil
Olive oil

Colavita acquires California-based O Olive Oil & Vinegar

Kimberly Redmond//April 11, 2023//

Listen to this article

Italian foods importer and distributor , which has its North American headquarters in Edison, is adding a new brand to its portfolio.

In an April 10 press release, the company announced it completed the acquisition of O Olive Oil & Vinegar – a line of specialty olive oils and vinegars made using fresh, California-sourced ingredients – from Curation Foods, a subsidiary of Lifecore Biomedical Inc.

Under the terms of the deal with Lifecore Biomedical, a contract development and manufacturing organization in Minnesota, the O Olive Oil & Vinegar business was sold for $6.23 million, which was split between $3.12 million cash and a $3.12 million seller’s note.

Giovanni Colavita, chief executive officer of Colavita USA, said in a statement, “I’m happy to announce this important acquisition. We have always looked with admiration at what the O founders created. A company that produces distinctive oils and vinegars, all 100% from California in a fully integrated way, and located in the heart of the Californian wine region.”

“We are happy to bring back O to a family-operated business and culture after a transitional period as part of a public company. I want to thank our team, the Curation team and our respective consultants for making this transaction happen so effectively,” he added.

Founded in 2007, O Olive Oil & Vinegar is a leading brand of organic extra virgin olive oil, champagne vinegar and sherry vinegar. The Petaluma, Calif.-based brand, which has been honored with multiple SOFI awards, is primarily sold in natural food stores, conventional supermarkets, online and other mass retail channels in the U.S. and Canada.

Family owned and operated since 1938, Colavita’s products can be found in more than 80 countries worldwide. After entering the major U.S. market in 1978, Colavita has become a leading distributor to retail grocery chains, specialty food stores and wholesale suppliers as well as restaurants, caterers and other food service operators. It is also a major partner and supplier for meal kit company HelloFresh and big box chain Walmart.

Going forward, Paolo Colavita, who serves as vice president of Colavita’s West Coast operations and lives in Northern California, will manage the O team, helping to lead the brand’s growth in markets nationally and internationally.

In a statement, the vice president described the addition as “a very exciting moment” in the company’s history and said he was “beyond grateful” for the opportunity.

He added, “Our mission with this acquisition is to stay true to the incredible uniqueness of the O brand without compromise, while utilizing our shared industry expertise to elevate the brand on a global scale.”

Lifecore President and Chief Executive Officer James Hall said the deal “completes our monetization of the remaining Curation Foods assets” and that the company is “completely focused on Lifecore and ensuring that we have the financial tools available to execute on our long-term growth strategy to meet customer demand within our development portfolio.”