Limoneira Company, acting as the General Partner, has made a strategic move concerning its subsidiary, Limco Del Mar, Ltd., a partnership based in California specializing in the production of lemons and avocados. To strengthen its position and enhance long-term financial returns, Limoneira recently completed an acquisition of additional ownership units in Limco Del Mar. Following an offer to purchase up to 224,859 limited partnership units, the company successfully acquired 80,608 units from 78 limited partners for approximately $5.6 million. This transaction increased Limoneira's ownership stake from 28.8% to a majority of 54.5%, marking a significant shift in control over the Limco Del Mar Ranch operations.
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