Limoneira Company operates as an agribusiness and real estate development company. The company’s operations consist of fruit production, sales and marketing, rental operations, real estate development, and capital investment activities. Its water resources include water rights, usage rights and pumping rights to the water in aquifers under, and canals that run through, the land that the company owns. Water for the company’s farming operations is sourced from the existing water resources associated with its land, which includes rights to water in the adjudicated Santa Paula Basin (aquifer) and the un-adjudicated Fillmore and Paso Robles basins (aquifers). The company uses ground water from the San Joaquin Valley Basin and water from water districts and irrigation districts in Tulare County, which is in California’s San Joaquin Valley; and uses ground water from the Cadiz Valley Basin in San Bernardino County. The company also uses surface water in Arizona from the Colorado River through the Yuma Mesa Irrigation and Drainage District. Business Divisions The company has three business divisions: Agribusiness, Rental Operations, and Real Estate Development. Agribusiness division This division includes two segments, Lemon Operations and Other Agribusiness; and includes the company’s farming, harvesting, lemon packing and lemon sales operations. Farming The company is one of California’s oldest citrus growers and one of the major growers of lemons and avocados in the United States. In addition to growing lemons and avocados, the company grows oranges, and various specialty citrus and other crops. Lemons: The company’s lemon farming is included in its Lemon Operations segment. The company markets and sells lemons directly to food service, wholesale and retail customers throughout the United States, Canada, Asia, Australia and certain other international markets. The company is one of the major lemon growers in the United States with approximately 4,200 acres of lemons planted primarily in Ventura and Tulare counties in California and in Yuma County, Arizona. Avocados: The company’s avocado farming is included in its Other Agribusiness segment. The company is one of the major avocado growers in the United States with approximately 1,100 acres of avocados planted throughout Ventura County. The company provides all of its avocado production to Calavo Growers, Inc. (Calavo), a packing and marketing company. Calavo’s customers include many of the largest retail and food service companies in the United States and Canada. Oranges: The company’s orange farming is included in its Other Agribusiness segment. The company grows oranges. The company has approximately 1,400 acres of oranges planted throughout Tulare County, California. The company utilizes Sunkist Growers, Inc. (Sunkist) to market and sell a portion of the company’s oranges under the Sunkist brand to food service wholesale and retail customers. Specialty Citrus and Other Crops: The company’s specialty citrus and other crop farming is included in its Other Agribusiness segment. The company has approximately 800 acres of specialty citrus and other crops planted, such as Moro blood oranges, Cara Cara oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios and olives. Similar to the company’s oranges, a portion of its specialty citrus is marketed and sold under the Sunkist brand by Sunkist and orders are processed by Sunkist-member packinghouses for direct shipment to customers. The company markets its other crops, such as pistachios and olives. The company’s pistachios are harvested and sold to a roaster, packager, and marketer of nuts; and its olives are harvested and sold to a processor and marketer of olives. Lemon Packing and Sales The company packs and sells lemons grown by the company, as well as lemons grown by others. Lemons delivered to the company’s packinghouses in Santa Paula, California and Yuma, Arizona are sized, graded, cooled, ripened, and packed for delivery to customers. The company’s strategy for improving the profitability of its lemon packing operations calls for optimizing the percentage of a crop
limoneira co (LMNR:NASDAQ GS)
1141 Cummings Road
Santa Paula, CA 93060
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