Early California Gourmet Extra Virgin Olive Oil Brand

Financial Information

  • Asking Price: $250,000
  • Gross Revenue: $93,446
  • Cash Flow: $10,000
  • Down Payment: ON REQUEST
  • FF&E (Not Included): ON REQUEST
  • Inventory: $18,000
  • Financing: Yes

Business Location

  • Alameda
  • San Francisco Bay
  • California
Primary Business Category: Grocery and Related Product Wholesalers

This business started in a garage in Berkeley in 1992, introducing one of the early California Extra Virgin Olive oil brands, beginning a gourmet awakening to the subject and providing bulk and bottled oils to clients throughout the nation. The SF Bay Area is the primary market and SKU placements are found in many fine specialty stores - part of an unparalleled client list. In 1997 the founder was selected over all other candidates to lead an investor driven roll-up of the California olive oil business. The group acquired other brands and businesses including Thomas Keller's EVO, VG Buck, and Critelli Olive Oil - combining them into a vertically integrated company targeting supermarket placements. Growth continued and distribution flourished to Seattle, LA, and New York. During that time the brand was profiled in magazines and newspapers and received awards from the National Association of the Specialty Food Trade. The bottle was included on a poster of world olive oils from Ten Speed Press. This business is a bulk importer of premium quality olive oils, which are then repackaged and distributed under the owner's well-established brand. The business is mostly a product driven brand with four primary SKU's in the marketplace. One is the California EVOO which has been on retailer's shelf in the Bay Area since 1993, over 25 years. Other SKU's include Organic EVOO, which together with the California EVOO comprises 80% of sales. The other SKU's are Balsamic Vinegar of Modena and Mediterranean. For over 25 years the company has been serviced by the largest specialty food distributor in the region. The brand is grandfathered into new store olive oil opening sets/plans wherever it goes. The owner semi-retired in 2016 and now wishes to make the brand available to a new owner to proudly carry the torch forward.


Competition Description

This long standing brand is on the shelf with other known California pioneer brands such as McEvoy, BR Cohn, etc. They are similarly packed and distributed. These brands also have branched more into the flavored oils and flavored vinegar areas, favoring small bottles and higher prices. This company represents the gourmet bulk segment where quality and value in a larger size is best for its users. Its motto has always been Consume with Gusto! Three top direct competitors are: Bariani of Sacramento, a family owned, multi-generational olive oil business; BR Cohn of Sonoma, recently sold but not a direct competitor on the shelf; McEvoy of Marin, a high-end plantation that sells at their own shop in the San Francisco Ferry Building. Although many recent new brands exist, this olive oil brand still is in a category by itself due to its long-term shelf presence in fine shops.


Growth / Expansion overview

The current owner has not been fully engaged in the business for several years, allowing it to coast on its long-established, quality reputation while he enjoys a semi-retired lifestyle. There are many opportunities for growth. For example, generally the products are not seasonal as olive oil is used throughout the year and is known to all as the standard for healthy cooking oil. However, since the harvest is in the fall, an olio nuovo could easily be created for fall/winter holiday season and made available as a seasonal gift item. Also, an innovative new owner could conceive new products, new sizes, new packaging and/or introduce new country of origin oils, vinegars, honey and more. Much could be done to expand the local store market, adding territories like Seattle, Portland, etc., to expand sales and reach, and could also have a direct-to-consumer internet sales approach. Web-based marketing and e-commerce could grow revenues significantly. The current owner has established an excellent foundation for an energetic, passionate new owner to re-ignite and further build this business and take it to the next level and beyond.


Support / Training Comments

Seller will negotiate a transition period


Financing Comments

Seller will consider some financing for a qualified buyer


Reason For Sale
Retirement
  • Home Based: No
  • Year Established: 1992
  • Franchise: No
  • Year Acquired: 1992
  • Willing to Train: Yes
  • Relocatable: Yes
  • Required Licences: Business, Health

  • Is Property Leased: No
  • Real Estate Available: No
  • Real Estate Included: No
  • Real Estate Value: N/A
  • Fulltime Employees: N/A
  • Part time Employees: N/A
  • Is Management Staying: No
  • Distressed: No
  • Monthly Payroll: $0
  • Monthly Rent: N/A

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Business Listed by

Sunbelt San Francisco #1

Contact: Phillip Holt
Office Phone: 510-523-0232
Mobile Phone: (510) 421-3434
Listing ID: OAKLACA001-N243

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