Limoneira Monetizes Portion of Its Premium 21,000 Acre-Feet of Water Rights at $30,000 per Acre-Foot
Limoneira, a diversified citrus growing and real estate development company, has successfully completed three water pumping rights transactions in the Santa Paula Basin, totaling $1.7 million.
The sales, which valued the water rights at $30,000 per acre-foot, highlight the growing value of water resources and affirm Limoneira's long-term strategy of optimizing water asset management.
These transactions are part of a larger portfolio of approximately 9,000 acre-feet of water rights in the Santa Paula Basin, accumulated through efficient water practices and strategic land management over the past century.
Limoneira retains around 21,000-acre feet of water rights across the Santa Paula and Fillmore Basins, the Paso Robles Basin, and Class 3 Colorado River water rights. These retained rights could be opportunistically monetized for shareholder benefit while supporting the company's core agricultural and development operations.
The company remains committed to industry-leading irrigation and farm management practices to conserve water and meet regional demands.
Limoneira, un'azienda diversificata nella coltivazione degli agrumi e nello sviluppo immobiliare, ha completato con successo tre transazioni di diritti di pompaggio dell'acqua nel Bacino di Santa Paula, per un totale di 1,7 milioni di dollari.
Le vendite, che hanno valutato i diritti sull'acqua a 30.000 dollari per acri-piede, evidenziano il crescente valore delle risorse idriche e confermano la strategia a lungo termine di Limoneira nell'ottimizzazione della gestione delle risorse idriche.
Queste transazioni fanno parte di un portafoglio più ampio di circa 9.000 acri-piedi di diritti sull'acqua nel Bacino di Santa Paula, accumulati attraverso pratiche idriche efficienti e una gestione strategica del suolo nel corso del secolo scorso.
Limoneira detiene circa 21.000 acri-piedi di diritti sull'acqua nei Bacini di Santa Paula e Fillmore, nel Bacino di Paso Robles e in diritti d'acqua di Classe 3 del fiume Colorado. Questi diritti trattenuti potrebbero essere monetizzati opportunisticamente a beneficio degli azionisti, sostenendo allo stesso tempo le operazioni agricole e di sviluppo principali dell'azienda.
L'azienda rimane impegnata nelle pratiche di irrigazione e gestione agricola leader del settore per conservare l'acqua e soddisfare le domande regionali.
Limoneira, una empresa diversificada en el cultivo de cítricos y desarrollo inmobiliario, ha completado con éxito tres transacciones de derechos de bombeo de agua en la Cuenca de Santa Paula, sumando un total de 1.7 millones de dólares.
Las ventas, que valoraron los derechos de agua en 30,000 dólares por acre-pie, destacan el creciente valor de los recursos hídricos y afirman la estrategia a largo plazo de Limoneira de optimizar la gestión de activos de agua.
Estas transacciones son parte de una cartera más amplia de aproximadamente 9,000 acres-pie de derechos de agua en la Cuenca de Santa Paula, acumulados a través de prácticas hídricas eficientes y gestión estratégica de tierras a lo largo del siglo pasado.
Limoneira retiene aproximadamente 21,000 acres-pie de derechos de agua en las Cuencas de Santa Paula y Fillmore, en la Cuenca de Paso Robles, y derechos de agua de Clase 3 del río Colorado. Estos derechos retenidos podrían monetizarse oportunamente en beneficio de los accionistas mientras apoyan las operaciones agrícolas y de desarrollo principales de la empresa.
La empresa sigue comprometida con las prácticas de riego y gestión agrícola de vanguardia para conservar agua y satisfacer las necesidades regionales.
Limoneira는 다양화된 감귤 재배 및 부동산 개발 회사로, 산타 폴라 분지에서 총 170만 달러에 달하는 3건의 물 펌프 권리 거래를 성공적으로 완료했습니다.
물 권리가 에이커-피트당 30,000달러로 평가된 이번 매각은 자원 수자원의 가치 증가를 강조하며, Limoneira의 장기 전략인 수자원 자산 관리를 최적화하겠다는 확신을 줍니다.
이 거래는 산타 폴라 분지에서 효율적인 물 관리 및 전략적 토지 관리로 지난 100년 동안 축적된 약 9,000 에이커-피트의 물 권리 포트폴리오의 일부입니다.
Limoneira는 산타 폴라 및 필모어 분지, 파소 로블레스 분지, 그리고 3급 콜로라도 강 물권에서 약 21,000 에이커-피트를 보유하고 있습니다. 이 보유된 권리는 주주 이익을 위해 기회적으로 수익화될 수 있으며, 회사의 핵심 농업 및 개발 운영을 지원합니다.
회사는 물을 절약하고 지역 수요를 충족하기 위해 업계를 선도하는 관개 및 농장 관리 관행을 지속적으로 지켜가고 있습니다.
Limoneira, une entreprise diversifiée dans la culture des agrumes et le développement immobilier, a réussi à finaliser trois transactions de droits de pompage d'eau dans le Bassin de Santa Paula, totalisant 1,7 million de dollars.
Les ventes, qui ont évalué les droits d'eau à 30 000 dollars par acre-pied, mettent en lumière la valeur croissante des ressources en eau et confirment la stratégie à long terme de Limoneira d'optimiser la gestion des actifs en eau.
Ces transactions font partie d'un portefeuille plus large d'environ 9 000 acres-pieds de droits d'eau dans le Bassin de Santa Paula, accumulés grâce à des pratiques d'utilisation de l'eau efficaces et une gestion stratégique des terres au cours du dernier siècle.
Limoneira détient environ 21 000 acres-pieds de droits d'eau dans les Bassins de Santa Paula et Fillmore, le Bassin de Paso Robles et des droits d'eau de Classe 3 du fleuve Colorado. Ces droits conservés pourraient être monétisés de manière opportuniste au bénéfice des actionnaires tout en soutenant les opérations agricoles et de développement clés de l'entreprise.
L'entreprise reste engagée envers des pratiques d'irrigation et de gestion agricole de pointe pour conserver l'eau et répondre aux besoins régionaux.
Limoneira, ein diversifiziertes Unternehmen für Zitrusanbau und Immobilienentwicklung, hat erfolgreich drei Wasserpumpenrechtsgeschäfte im Santa Paula Becken abgeschlossen, die insgesamt 1,7 Millionen Dollar betragen.
Die Verkäufe, die die Wasserrechte mit 30.000 Dollar pro Acre-Foot bewerteten, heben den wachsenden Wert der Wasserressourcen hervor und bestätigen Limoneiras langfristige Strategie zur Optimierung des Wassermanagements.
Diese Transaktionen sind Teil eines größeren Portfolios von etwa 9.000 Acre-Foot Wasserrechten im Santa Paula Becken, die im Laufe des letzten Jahrhunderts durch effiziente Wasserpraktiken und strategisches Flächenmanagement angesammelt wurden.
Limoneira hält rund 21.000 Acre-Foot Wasserrechte in den Santa Paula und Fillmore Becken, im Paso Robles Becken sowie Wasserrechte der Klasse 3 des Colorado River. Diese gehaltenen Rechte könnten opportunistisch monetarisiert werden, um den Aktionären zugutekommen, während die Kerngeschäfte der Landwirtschaft und Entwicklung unterstützt werden.
Das Unternehmen bleibt den branchenführenden Praktiken der Bewässerung und Farmmanagement verpflichtet, um Wasser zu sparen und den regionalen Bedürfnissen gerecht zu werden.
- $1.7 million gained from water rights sales.
- Water rights valued at $30,000 per acre-foot.
- Retains 21,000-acre feet of water rights for future monetization.
- None.
Insights
This strategic water rights monetization by Limoneira represents a significant value-unlocking event that validates the company's water asset management strategy. At
The deal's timing is particularly strategic given California's persistent drought conditions and increasing water scarcity. Water rights in agricultural regions have become increasingly valuable assets, with prices rising significantly over the past decade. The
Most notably, this transaction represents less than
For shareholders, this transaction has three key implications:
- Validates the substantial underlying value of water rights assets
- Demonstrates management's ability to opportunistically monetize non-core assets
- Provides additional working capital while maintaining operational capacity
The retention of 21,000 acre-feet of diversified water rights across multiple basins positions Limoneira favorably for both continued agricultural operations and future strategic monetization opportunities. This portfolio approach, spanning from California to Colorado River rights, provides valuable optionality in water resource management.
Strategic Sale of
Three Separate Transactions Total
The transactions represent a strategic monetization from the Company’s substantial portfolio of approximately 9,000 acre-feet of water pumping rights in the
Harold Edwards, President and Chief Executive Officer of Limoneira Company, stated, “We are pleased to facilitate the sale of these water pumping rights to help the requirements of local buyers needing additional water. We are also pleased to create transactions that demonstrate the significant value these
About Limoneira Company
Limoneira Company, a 132-year-old international agribusiness headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Limoneira’s current expectations about future events and can be identified by terms such as “expect,” “may,” “anticipate,” “plans,” “intend,” “should be,” “will be,” “is likely to,” “strive to,” and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements. Therefore, Limoneira cautions you against relying on any of these forward-looking statements. Factors that may cause future outcomes to differ materially from those foreseen in forward-looking statements include, but are not limited to: success in executing the Company’s business plans and strategies, including the review and evaluation of strategic transactions; the process by which the Company engages in its evaluation of strategic transactions; the outcome of potential future strategic transactions and the terms thereof; the possibility that the evaluation of potential strategic transactions will not realize any additional value to our stockholders, and managing the risks involved in the foregoing; changes in laws, regulations, rules, quotas, tariffs and import laws; weather conditions that affect production, transportation, storage, import and export of fresh product; increased pressure from crop disease, insects and other pests; disruption of water supplies or changes in water allocations; disruption in the global supply chain; pricing and supply of raw materials and products; market responses to industry volume pressures; pricing and supply of energy; changes in interest and currency exchange rates; availability of financing for land development activities; political changes and economic crises; international conflict; acts of terrorism; labor disruptions, strikes or work stoppages; loss of important intellectual property rights; inability to pay debt obligations; inability to engage in certain transactions due to restrictive covenants in debt instruments; government restrictions on land use; and market and pricing risks due to concentrated ownership of stock. Other risks and uncertainties include those that are described in Limoneira’s SEC filings that are available on the SEC’s website at http://www.sec.gov. Limoneira undertakes no obligation to subsequently update or revise the forward-looking statements made in this press release, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250123018160/en/
Investor:
John Mills
Managing Partner
ICR 646-277-1254
Source: Limoneira Company
FAQ
What does the LMNR water rights sale mean for shareholders?
How much did Limoneira sell its water rights for?
What is the significance of Limoneira retaining 21,000-acre feet of water rights?
How does Limoneira plan to use the proceeds from the water rights sale?
What basins do Limoneira's remaining water rights cover?
How has Limoneira accumulated its water rights portfolio?
What is the value of water rights according to Limoneira's recent transactions?
