---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-008598"
form_type: "8-K"
ticker: "LMNR"
cik: "0001342423"
company_name: "Limoneira CO"
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T05:09:45.027497+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Limoneira closes sale of 3,537 acres in Tulare County for $100M; expects accretion to EBITDA and EPS

## Summary
- Sale closed Jan 31, 2023; purchase price $100M with ~$99M net cash proceeds.
- Transaction expected to be accretive to pro forma EBITDA and EPS; will significantly reduce debt.
- Entered into one-year farm management and minimum five-year packing/marketing agreements with buyer PGIM.
- Over past 3 months, sold ~$130M of $150M non-strategic assets identified under strategic plan.
- Company will host conference call Feb 1, 2023 at 10:00 a.m. ET to discuss the transaction.

## SEC filing metadata
- accession: 0001104659-23-008598
- form_type: 8-K
- ticker: LMNR
- cik: 0001342423
- company_name: Limoneira CO
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1342423/000110465923008598/0001104659-23-008598-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1342423/000110465923008598/tm234205d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-008598
- JSON: https://secwatch.observer/filing/0001104659-23-008598.json
- Plain text: https://secwatch.observer/filing/0001104659-23-008598.txt

## Key facts
- Material Agreements
  Limoneira CO entered into Purchase and Sale Agreement and Joint Escrow Instructions with PGIM Real Estate Finance, LLC valued at approximately $100,000,000 (effective 2022-10-10).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: PGIM Real Estate Finance, LLC
  - Value: approximately $100,000,000
  - Effective: 2022-10-10
  source text: On October 10, 2022, Limoneira Company, (the “ Company ”) entered into a Purchase and Sale Agreement and Joint Escrow Instructions, dated October 10, 2022 (the “ Purchase Agreement ”), as amended on January 17, 2023 (the “ First Amendment ”), and as further amended on January 24, 2023 (the “ Second Amendment ” and, together with the First Amendment and the Purchase Agreement, the “ Agreement ”) with PGIM Real Estate Finance, LLC, a Delaware Limited Liability Company (“ PGIM ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1342423/000110465923008598/0001104659-23-008598-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.