Limoneira to sell California vineyard for $15 million
Amid years of financial turmoil, citrus and avocado grower and packer Limoneira continues to divest of non-strategic assets.
On August 17, the company announced it had entered an agreement to sell Windfall Farms, an approximately 724-acre vineyard in Paso Robles, California, part of the company's agribusiness division.
The deal was struck after Limoneira opened a competitive public auction for the property on August 5th, which closed 10 days later when the firm reached a provisional agreement with a private buyer for $15 million in cash.
The transaction is expected to close on September 14, 2026, subject to customary closing conditions.
“We are pleased with the outcome of the auction process and look forward to using the proceeds to strengthen our balance sheet, reduce debt and support strategic growth initiatives,” said Harold Edwards, President and CEO of Limoneira Company, in a press release.
Limoneira continues to liquidate assets
According to the company, the sale of Windfall Farms is part of an ongoing strategy to monetize nonstrategic assets, reduce debt, and enhance overall shareholder value. The firm said it will use net proceeds in part to fund avocado acreage expansion.
The California-based company has been hard-hit by a decades-long decline in lemon prices that, as of December 2025, had resulted in a 49 percent accumulated drop in stock value. Limoneira's financial performance has reflected these difficulties, as the company reported over $16 million in revenue loss in Q3 2025 and a $34.3 million year-on-year revenue drop in Q1 2026.
In November 2025, the company completed the divestment of two Chilean ranches totaling over 3,500 acres. The properties, both located in the Northern region of Coquimbo, were bought for around $15 million by local agricultural private equity group Sembrador Capital, associated with the Chilean investment bank LarrainVial.
*All images courtesy of Limoneira.
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