-Additional volume to supply global customer network
SANTA PAULA, Calif.--(BUSINESS WIRE)--
Limoneira Company (the "Company" or "Limoneira") (NASDAQ: LMNR)
announced today the formation of Limoneira S.A. (Limoneira South Africa)
as another component of the company's One World of Citrus® model.
Limoneira and South African based Re:inc also announced their
partnership called Real Citrus to represent and manage packing
and sales opportunities on the continent.
Limoneira SA will be based in Paarl, South Africa, and Limoneira's U.S.
organization together with Re:inc will manage grower, packing and sales
functions. Citrus will be sourced from South African growers and will be
packed locally for marketing and global sales.
Alex Teague, Limoneira's Chief Operating Officer stated "Africa is one
of the largest citrus exporting continents in the world - exports are
almost 4 times larger than California's and Arizona's combined. This
represents another promising opportunity for supplying our global
customers year-round. Limoneira S.A. will also pursue investments in
joint venture farming and packing operations in South Africa."
Limoneira Senior Director, Agricultural Director Mark Palamountain,
echoed these comments and said "We're delighted to partner with Re:inc.
They have extensive experience in getting world class fruit to market,
and they mirror Limoneira's commitment to sustainability, stewardship
and innovation. This continues our mission of perfecting the 52 week
citrus supply chain."
Riaan van Wyk, Re:inc. CEO, said "working with Limoneira made perfect
sense. Their 124 year history of growing high quality citrus for export
is admirable as is their responsibility for sustainability. It will be
exciting to harness our combined talents to benefit our customers."
About Limoneira Company
Limoneira Company, a 124-year-old international agribusiness
headquartered in Santa Paula, California, has grown to become one of the
premier integrated agribusinesses in the world. Limoneira (pronounced lē
mon΄âra) is a dedicated sustainability company with approximately 10,700
acres of rich agricultural lands, real estate properties and water
rights in California and Arizona. The Company is a leading producer of
lemons, avocados, oranges, specialty citrus and other crops that are
enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.
About Re:inc
Riaan van Wyk and Liezel Kriegler, the founders of Re:inc, have been
developing new varieties of fruit in South Africa for two decades.
Re:inc breeds, evaluates, produces and markets world class fruit
globally and maintains an international network of breeder associates,
producers and marketers to supply domestic and international customers.
The company is linked to and supported by a number of research
institutions, in the USA, Europe, the United Kingdom and China. For more
information about Re:inc. visit www.reinc.co.za.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160412005052/en/
Media Contact:
Limoneira Company
John Chamberlain, 805
525-5541 ext 1056
jchamberlain@limoneira.com
or
Investor
Contact:
ICR
John Mills, 646-722-1254
John.Mills@icrinc.com
Source: Limoneira Company
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