other material
confidence high
sentiment negative
materiality 0.60
Limoneira receives termination of Farm Management Agreement for 3,537-acre citrus groves effective March 31, 2025
Limoneira CO
- PGIM (on behalf of PAI) terminated Farm Management Agreement (FMA) effective March 31, 2025; no early termination penalties.
- Under the FMA, Limoneira managed 3,537 acres of citrus groves in Tulare County sold to PGIM in October 2022.
- The related Grower Packing & Marketing Agreement (GPMA) with PAI for packing/marketing lemons continues with a five-year term.
- The FMA had auto-renewed after March 31, 2024, subject to 30-day notice before April 1.