SANTA PAULA, Calif.--(BUSINESS WIRE)--Jul. 18, 2018--
Limoneira Company (the “Company” or “Limoneira”) (Nasdaq:LMNR), a
diversified citrus packing, sales and marketing company with related
agribusiness activities and real estate development operations,
announced that effective today it has completed the acquisition of
Fruticola San Pablo S.A.’s (“San Pablo”) ranch and related assets in La
Serena, Chile.
The San Pablo ranch consists of 3,317 total acres on two parcels,
including 247 acres producing lemons, 61 acres producing oranges, the
opportunity to immediately plant 120 acres for lemon production, as well
as the potential for approximately 500 acres of avocado production.
“We are extremely excited about expanding our citrus assets with the
additional of the San Pablo ranch,” commented Harold Edwards, President
and Chief Executive Officer. "This acquisition creates additional scale
for our Chilean operations and will improve our competitive position
globally as a year round supplier of fresh citrus. We continue to work
through our pipeline of other potential acquisitions which furthers our
One World of Citrus initiative and addresses what we believe is a
tremendous long-term growth opportunity.”
About Limoneira Company
Limoneira Company, a 125-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 14,500 acres of rich
agricultural lands, real estate properties, and water rights
in California, Arizona and Chile. 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.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.These
forward-looking statements are based on Limoneira’s current expectations
about future events and can be identified by terms such as “expect,”
“may,” “anticipate,” “intend,” “should be,” “will be,” “is likely to,”
“strive to,” and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking
statements are reasonable but cannot guarantee future results, level of
activity, performance or achievements.Actual results may differ
materially from those expressed or implied in the forward-looking
statements.Therefore, Limoneira cautions you against relying on
any of these forward-looking statements. Factors which may cause future
outcomes to differ materially from those foreseen in forward-looking
statements include, but are not limited to:changes in laws,
regulations, rules, quotas, tariffs and import laws; weather conditions
that affect production, transportation, storage, import and export of
fresh product; increased pressure from crop disease, insects and other
pests; disruption of water supplies or changes in water allocations;
pricing and supply of raw materials and products; market responses to
industry volume pressures; pricing and supply of energy; changes in
interest and currency exchange rates; availability of financing for land
development activities; political changes and economic crises;
international conflict; acts of terrorism; labor disruptions, strikes or
work stoppages; loss of important intellectual property rights;
inability to pay debt obligations; inability to engage in certain
transactions due to restrictive covenants in debt instruments;
government restrictions on land use; and market and pricing risks due to
concentrated ownership of stock.Other risks and uncertainties
include those that are described in Limoneira’s SEC filings which are
available on the SEC’s website at http://www.sec.gov.Limoneira undertakes no obligation to subsequently update or revise
the forward-looking statements made in this press release, except as
required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180718005227/en/
Source: Limoneira Company
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