<p><strong>Santa Paula, CA</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Limoneira has entered into an agreement to acquire 230 acres of agricultural property in California’s San Joaquin Valley. The company is acquiring the land for $1.3 million, and the transaction is expected to close in August 2012.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The property will be used for citrus growing and will house around 150 acres of lemons, adding to the existing 1,870 acres of lemon orchards. Limoneira expects it will produce about 1,000 cartons of lemons per acre. Harold Edwards, President and CEO of Limoneira, states, “With the close of this transaction, we will have added over 1,300 acres of productive agriculture this year which is in-line with our overall strategy to leverage our expertise in managing premium agriculture properties. This property is adjacent to the Sheldon orchards, which will make for efficient integration into our current operations.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Alex Teague, Senior VP of Limoneira, adds, “Expanding our portfolio of quality citrus acreage is an essential part of our long-term agribusiness growth strategy. We have a strong pipeline of additional acquisition opportunities and believe we will continue to expand our business through acquisitions and organic growth that will contribute to our long-term top and bottom line growth for many years to come.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.limoneira.com/" target="_new"> Limoneira </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
