International agribusiness Limoneira has announced plans to acquire a 157 acre (63.5ha) citrus orchard in California’s San Joaquin Valley for US$3.3m.
The purchase agreement for the lemon, orange and specialty citrus orchard is expected to be finalised within two months, according to a company statement.
The company said the estimated US$2.8m sale of its Wilson Ranch orchards in August 2015 will be used to purchase the 157 acre orchard.
CEO and president of Limoneira Harold Edwards told Asiafruit earlier in the year that the company had long-term expansion plans to increase its lemon and orange volumes in coming years.
Limoneria holds around 10,700 acres of agriculture land and real estate properties, producing citrus, avocados and more for both domestic and export markets.