Kailis Organic Olives Groves is now on the market, after receivers have seized control of Kailis Organic Olive Grove, in Western Australia. KordaMentha receivers has put the assets from the company on the market.
These include: 3900 hectares at Preston Valley, Avon Valley, Twin Brooks, and Dandaragan as well as 1800 of olive plantations. Kailis Organic Olive Groves, one of the world’s biggest producers of organic olive oil, will be put on the market after collapsing with debts of $18 million, $15 million of which is believed to be owed to Westpac. Managing Director Mark Kailis called in administrators McGrathNicol in late November, and Westpac Banking Corporation then summoned KordaMentha. Mark Kailis, grandson of Kailis patriarch George Peter, founded the business in 2001.
It is one of the first companies controlled by members of the $320 million Kailis family. Peter Kailis, the eldest of George Peter’s four sons, has a stake in the company worth about 30 per cent, while the Kailis family, including Mark, own about 10 per cent. The other major investors are directors Marco D’Orsogna, a part-owner of Italian smallgoods manufacturer D’Orsogna, and Sydney investment banker Christopher Ryan.
