Limoneira Company is acquiring 230 acres of citrus land in California’s San Joaquin Valley for $1.3 million.
Of that, 150 acres will be planted with lemons, according to a news release. That adds to the Santa Paula, Calif.-based company’s existing 1,870 acres of lemon orchards. Each acre can produce about 1,000 cartons of lemons.
The transaction is expected to finalize in August.
It boosts Limoneira’s owned and leased land total to more than 8,000 acres.
“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,” Harold Edward, president, said in the release. “This property is adjacent to the Sheldon orchards, which will make for efficient integration into our current operations.”