Limoneira Announces Formation of Grupo Argentino

SANTA PAULA, Calif.--()--Limoneira Company (the “Company” or “Limoneira”) (Nasdaq:LMNR), a leading global agribusiness with prime agricultural land and operations, real estate and water rights in California, Arizona and Chile today announced the formation of Grupo Argentino, a cooperative arrangement between the Company and leading Argentinian Citrus Growers and Packers.

“Coupled with state of the art technology, it has enabled significant growth in many markets throughout the world and this relationship builds on that in North America. It’s a win-win situation.”

Grupo Argentino will complement U.S. supplies of lemons during the Northern hemisphere’s summer months with consistent supply from Argentina. In addition to Limoneira, F.G.F. Trapani S.A., Padilla Citrus S.A. and EarlyCrop S.A. are part of the network.

“Our One World of Citrus Model™ is reaping dividends for us, and Grupo Argentino is just the latest piece to the puzzle,” said Alex Teague, Limoneira Chief Operating Officer. “It takes time to find companies with like-minded philosophies and missions. Each of the Members of Grupo Argentino share Limoneira’s dedication to providing uninterrupted supply and the highest quality citrus and service.”

“For more than 60 years, three generations of our family have produced and sold fresh lemons,” said Ricardo Trapani, F.G.F Trapani Chief Executive Officer. “We have developed a reputation for quality and have demonstrated consistent growth. We export globally and are dedicated to sustainability, having received Global GAP, SEDEX and BRC FOOD designations. The One World of Citrus is a logical distribution model for our company.”

Pablo Jose Padilla, Chief Executive Officer of Padilla said, “We produce high quality citrus for Argentina’s consumption and for export to world markets. By controlling every part of our process, we ensure product quality to its final destination. All members of Grupo Argentino share this same approach and that’s why it makes sense for us to work together and utilize economies of scale.”

“EarlyCrop was formed with the aim of meeting demand during the northern hemisphere counter-season,” explained Fernando Seoane, EarlyCrop Director. “Coupled with state of the art technology, it has enabled significant growth in many markets throughout the world and this relationship builds on that in North America. It’s a win-win situation.”

About Limoneira Company

Limoneira Company, a 125-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (pronounced lē mon΄âra) is a dedicated sustainability company with 11,200 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona and Chile. The Company is a leading producer of lemons, avocados, oranges, specialty citrus and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.

About FGF Trapani S.A.

F.G.F TRAPANI S.A. is synonymous with both lemon and family. For more than 60 years, three generations have been engaged in producing, marketing and selling fresh lemons and on a smaller scale, other citrus. The Company grows on over 3,200 acres and has a reputation for an excellent quality. It has grown yearly both nationally and internationally. For more information please visit Trapani.

About Padilla Citrus

Padilla owns 7600 acres of land in different geographical areas of Argentina which provide a constant and growing production of lemons for export and domestic consumption. Approximately 70% of the irrigation controlled electronically. Seedlings for Company fields come from certified nurseries of the Padilla farm, which ensures a well-developed tree from inception. For more information please visit Padilla Citrus.

About EarlyCrop

EarlyCrop began production and marketing of fresh and frozen blueberries which has positioned them as one of the leading companies in the scope of Argentina’s earliest crop. Supplying demand during the northern hemisphere counter-season; together with state-of-the-art technology has enabled the Company to grow significantly in recent years. Lemons and blueberries, are both “super fruits”, and complementary both in production and harvesting. Lemon production is located in Tucuman. For more information please visit EarlyCrop.

Contacts

Investor:
ICR
John Mills, 646-277-1254
Managing Partner
or
Media:
Limoneira Company
John Chamberlain, 805-708-0364
Director of Marketing

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Release Summary

Limoneira Announces Formation of Grupo Argentino

Limoneira Company