Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, today announced it has closed its previously announced sale of its Oxnard Lemon Packing Facility (“OLA”) in Ventura County, California to Ventura County Railway Company for $20 million in cash proceeds. The Company expects to record an approximate gain of $900,000 on this transaction to be recognized in the fiscal fourth quarter 2022 ending October 31, 2022, and utilize the $20 million proceeds to reduce the Company’s debt.
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