date:Sep 13, 2013
Limoneira, a US-based agribusiness firm, has acquired a privately owned company Associated Citrus Packers (ACP) of Arizona in a deal valued at around $18.6m.
ACP owns about 1,300 acres of property in Yuma, Arizona, comprising approximately 950 acres of lemon orchards, 350 acres of other crops and facilities and it also has access to the Colorado River for crop irrigation.
The acquisition is expected to provide Limoneira with operating profit during the fourth quarter of 2013 and first quarter