Limoneira Closes Sale of its Chilean Ranches for $15 Million

Core Points - Limoneira Company has completed the sale of its Chilean ranches, Pan de Azucar and San Pablo, for approximately $15 million, with an initial cash receipt of $6.8 million [1][3] - The transaction aligns with the company's strategy to monetize non-strategic land and water assets while maintaining a 47% interest in a citrus packing, selling, and marketing business in Chile [1][3] - The company has identified a pipeline of real estate development assets valued between $355 million and $405 million for long-term monetization [3] Agriculture Strategy - The company aims to streamline operations, expand avocado production, and optimize lemon packing through a partnership with Sunkist [6] - Plans include expanding an organic recycling facility and selling non-strategic land assets valued at approximately $40 million [6] Land and Water Assets - Limoneira is also looking to sell certain water rights valued between $50 million and $70 million as part of its asset monetization strategy [6]