Limoneira, one of the original founders of US-based citrus farming group Sunkist Growers, to rejoin the cooperative.
The transaction, structured as a “merger” of Limoneira’s sales and marketing operations with Sunkist, is expected to be finalised in November.
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California-based Limoneira will return to Sunkist as one of its largest lemon growers and an exclusive licensed packer, the agri-food group said in a statement.
Limoneira said the move would lead to “streamlined operations” and improved efficiency in its supply chain. It expects the deal to generate $5m in annual cost savings and EBITDA improvement.
Sunkist said the transaction would “drive expanded market access, optimise citrus supply and strengthen the cooperative’s ability to meet evolving customer and grower needs”.
Harold Edwards, the CEO of Limoneira, added: “Together, we plan to deliver reliable supply, operational efficiency, and complete category coverage to the nation’s premier food service and retail customers, while generating meaningful cost savings and establishing a stronger foundation for sustainable growth.”
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By GlobalDataJim Phillips, chief executive of Sunkist said: “This is a strategic reconnection of entities with shared legacy, collaboration, values and trust. We are focused on transforming our collective capabilities, insights, and expertise into increased value for our growers, packers and customers.”
Limoneira Company, headquartered in Santa Paula, California, is an international agricultural business. The fruit packer, founded in 1893, has 10,500 acres of land, real estate and properties, with water rights in California, Arizona, Chile and Argentina. Its product portfolio includes lemons, avocados, and other crops.
Sunkist Growers, also founded in 1893, is owned and operated by more than 1,000 farmer families growing citrus in California and Arizona.
