Limoneira buys 230 acres of Lindsay citrus for $1.3 M

Source: The Business Journal

Santa Paula, Calif.-based Limoneira, a major citrus and avocado grower-shipper, has acquired more citrus property in Lindsay in an effort to build its agricultural holdings and production in the San Joaquin Valley. Limoneira purchased land and water rights for 230 acres of citrus property located adjacent to Sheldon Orchards where it already has 200 acres of citrus property that it acquired in March. Limoneira also purchased 125 acres of citrus trees in Porterville in April. Of the 230 acres just acquired, 150 acres will be planted with lemons. The company believes it now has capability of producing 1,000 cartons per acre. “With the close of this transaction, we will have added over 1,3000 acres of productive agriculture this year, which is in line with our overall strategy to leverage our expertise in managing premium agriculture properties,” said Harold Edwards, president and chief executive officer of Limoneira in a release. Alex Teague, senior vice president of Limoneira, said the company would continue to add to its agriculture acreage as part of its long-term growth strategy.

URL to original article: http://www.thebusinessjournal.com/news/agriculture/2739-limoneira-buys-230-acres-of-lindsay-citrus-for-13-m

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