Limoneira Company announces joint venture with Wileman Bros. & Elliott, Inc.


SANTA PAULA, Calif .– Limoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, sales and marketing company with agro-industry and operations related real estate development company, today announced that it has signed a memorandum of understanding with Wileman Bros. & Elliott, Inc., to unite to sell their combined citrus volumes as part of the One World of Citrus alliance.

Wileman Bros. & Elliott, Inc. is a 95-year-old citrus fruit company located in the Central Valley of California. It is both a major producer and independent shipper of Californian citrus with a focus on oranges, mandarins and specialty citrus fruits. Limoneira, another legacy brand, operating since 1893, is a global citrus producer with large farms in California of lemons, oranges and other specialty citrus crops. Going forward, Limoneira’s specialty oranges and citrus fruits, including grapefruit and pomelo, will be packaged and shipped by Wileman Bros. & Elliott, Inc.

“We are very happy to team up with Limoneira in this new venture,” said Brian Johnson,

CEO of Wileman Bros. & Elliott, Inc. “Combining our volumes, service and expertise with that of Limoneira, as part of the One World of Citrus ™ program, will allow us to focus on producer feedback while delivering a level of exceptional service and value to our customers. “

Both entities will maintain and develop their current brands and packaging, but sales representatives from both companies will be responsible for the entire combined citrus portfolio from all growing regions, including imports. The One World of Citrus “One Service” program will provide a single invoice to the customer in order to simplify the transaction.

“We are very happy to join Wileman Bros. & Elliott to expand our citrus offering as part of the One World of Citrus ™ program. By bringing all of our efforts together under One World of Citrus ™, we are truly expanding our One World, One People, One Service model, ”said Harold Edwards, President and CEO of Limoneira.

About the company Limoneira

Limoneira Company, a 128-year-old international agro-industry based in Santa Paula, California, has grown into one of the world’s first integrated agro-industries. Limoneira (lç moñ âra) is a sustainable development company with 15,400 acres of rich farmland, real estate and water rights in California, Arizona, Chile and Argentina. The company is a leading producer of lemons, avocados, oranges, specialty citrus fruits and other crops valued around the world. To learn more about Limoneira Company, visit www.limoneira.com.

About Wileman Bros. & Elliott, Inc.

Wileman Bros. & Elliott, Inc. was established in 1925. The company began by exporting stone fruits and table grapes to markets in Singapore, China and Australia. The business grew during the 1960s to include citrus fruits. By 2005, the company had made its complete transition to the vertically integrated citrus grower, packer and shipper it is today. The company continued to grow and expand its markets by controlling all processes from farm to refrigerator and focusing on cultivation practices, sustainability and food safety.

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 regarding future events and may be identified by terms such as “expect”, “may”, “anticipate”, “intend”, “should be” , “Will”, “is likely to”, “endeavor to” and similar expressions referring to future periods.

Limoneira believes that the expectations reflected in 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 forward-looking statements. Therefore, Limoneira cautions you not to rely on any of these forward-looking statements. Factors that could cause future results to differ materially from those anticipated in forward-looking statements include, but are not limited to: additional impacts of the current COVID-19 pandemic, changes in laws, regulations, rules, quotas, tariffs and import laws; weather conditions that affect the production, transportation, storage, import and export of fresh produce; increased pressure from crop diseases, insects and other pests; interruption of water supply or modification of water allocations; pricing and supply of raw materials and products; market responses to industry volume pressures; pricing and supply of energy; changes in interest rates and exchange rates; availability of funding for land use planning activities; political changes and economic crises; international conflict; acts of terrorism; work interruptions, strikes or work stoppages; the loss of important intellectual property rights; inability to pay debts; the inability to engage in certain transactions due to restrictive covenants in debt instruments; government restrictions on land use; and market and price risks due to concentration of ownership of shares. Other risks and uncertainties include those described in documents filed by Limoneira with the SEC which are available on the SEC’s website at http://www.sec.gov. Limoneira assumes no obligation to update or subsequently revise any forward-looking statements made in this press release, except as required by law.

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