Olive oil producer Olea Australis has entered into a memorandum of understanding to supply Anchor Foods with extra virgin olive oil for a five year period.

“With over 3,000 stores controlled by the major supermarket chains and independents in Australia, Olea Australis has partnered Anchor Foods to develop an extra virgin olive oil for an existing and well established brand at an appropriate price point to meet the supermarket requirements in Australia,” Olea said. “Anchor Foods already has well established relationships with all the key supermarket chains in Australia.”

“Both Olea Australis and Anchor Foods believe there will be significant growth once the quality of the extra virgin olive oil is acknowledged by the general public,” it said. “Anchor Foods will bottle the extra virgin olive oil under the Anchor brand”

“This product will be distributed through all major retailers in Australia,” it said. “The product will be priced at a level that will make premium extra virgin olive oil affordable for the general public.”