Limoneira Purchases 757-Acre Citrus Orchard For $15.1 Million

Limoneira Company announced it has officially completed its previously announced acquisition of 757 acres of lemon, orange, and specialty citrus orchards in San Joaquin Valley in California for a price of $15.1 million.

“We are pleased to complete the acquisition of the orchards that were part of the Sheldon Ranch leases,” said Harold Edwards, President and Chief Executive Officer of Limoneira. “We have recently acquired approximately 900 acres of land that was previously leased in the highly productive San Joaquin Valley, and this is expected to generate incremental operating results and cash flows resulting from the elimination of lease expense beginning in fiscal year 2016.”