Limoneira Company Announces Third Quarter and Nine Months Fiscal Year 2015 Financial Results

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Go back to Limoneira Company Announces Third Quarter and Nine Months Fiscal Year 2015 Financial Results

Limoneira (LMNR) Enters Contribution Agreement with Developer Tied to Gateway Project

September 9, 2015 8:20 AM EDT

Limoneira (NASDAQ: LMNR) announced that is has entered into a Contribution Agreement as the initial step that will facilitate a joint venture with The Lewis Group of Companies (the Lewis Group), a leading residential real estate investment company, for the planned development of Santa Paula Gateway (Gateway Project or Project). Limoneira received a deposit of $2.0 million from the Lewis Group upon entering into the Contribution Agreement. Upon the completion of certain conditions to close the transaction, which is anticipated in November 2015 and includes the contribution of the property to the joint venture, Limoneira expects to receive an... More