Limoneira Co., a diversified citrus-growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, has entered into an agreement with FGF Trapani, a multi-generational, family-owned citrus operation in Argentina. 
Beginning in 1937 with Ignacio Trapani, Ricardo Trapani (third generation) and his sons, Fabricio, Gabriel, and Franco (fourth generation) have grown FGF into an enterprise of over 3,200 acres of lemons and oranges in the of provinces of Salta, Jujuy and Tucuman as well as owning and operating a juice processing facility in the province of Tucuman.
As part of the agreement, Limoneira will create a subsidiary in Argentina under the name Limoneira Argentina S.A.U. and will acquire 25 percent of the parcels of Finca Santa Clara, approximately 1,200 acres of planted lemons, up front with an additional 25 percent to be acquired over a three-year period. Limoneira Argentina and FGF’s agreement will operate under the name Trapani Fresh, with Limoneira Argentina as the managing partner and responsible for all fresh fruit sales. The agreement is expected to close in the middle of March 2019. FGF Trapani will maintain 100 percent ownership and control of the juice processing facilities and operations.
"It’s very exciting for us to expand our global footprint into Argentina and thereby strengthen our ability to become a 365-day, 24/7 global supplier of fresh citrus to our valued customers around the world," said Alex Teague, senior vice president. "This joint venture fits in nicely with our One World of Citrus initiative and we are looking forward to welcoming FGF’s family owned business to the Limoneira team. This relationship will provide Limoneira with access to new markets and distribution networks, increase production and technical capacity and also reduce impact on operating results."
"We are excited to add FGF’s rich supply of citrus to our global production and increase our competitive position," said Harold Edwards, president and chief executive officer. "Our two companies have a long history with a combined 205 years in the business and this joint venture is bringing together years of industry knowledge and expertise. We expect the deal to be accretive in fiscal year 2019 and we will provide more information on our first quarter call in early March.”
