SANTA PAULA - Limoneira Company is taking vital steps to bolster its business model, a strategy that has come in the form of multiple pivotal agreements. After selling its Oxnard, California, packing facility for $20 million, the supplier has now announced the sale of its real estate development property referred to as “Sevilla” located in Santa Maria, CA.
Harold Edwards, President and Chief Executive Officer, shared some insight on the recent deal.
“We are very pleased to have delivered on our goal to close the sale of our Sevilla property in calendar year 2022 and to deliver against our strategy of selectively selling off non-core assets as we move toward an asset-light model," he said. "We will use the cash generated by this sale to continue reducing our debt and enhance shareholder value.”
The $2.6 million cash transaction closed on November 30, 2022.
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