Business
Limoneira Enters into Exclusive Licensing Relationship with Food System Innovation Company Apeel Sciences to Deliver the World’s Best Lemons
Apeel’s Technology will Open Additional Channels and Market Opportunities for Limoneira Limoneira Lemons Will be Differentiated by Improving Product Quality
About this update from Limoneira Co
[{"type":"text","content":"\nApeel’s Technology will Open Additional Channels and Market Opportunities for Limoneira\n\n\nLimoneira Lemons Will be Differentiated by Improving Product Quality and Vitality, Extending Shelf Life, while Improving Supply Chain Efficiencies for Retail and Food Service Customers\n\n\n SANTA PAULA, Calif.--(BUSINESS WIRE)--\nLimoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling, and marketing company with related agribusiness activities and real estate development operations, today announced that it has entered into an exclusive licensing relationship with Apeel Sciences (“Apeel”). Limoneira will protect lemons across its supply chain with Apeel’s coating technology. This non-GMO, edible, plant-based coating maintains moisture for longer and reduces oxidation preventing spoilage throughout the supply chain. For lemons, this means they stay juicy and retain their bright, yellow color for longer. As Apeel's first, fully integrated lemon supplier in the U.S., Limoneira will significantly expand availability of Apeel-protected lemons domestically and internationally through Limoneira affiliated packing facilities and through licensing management.\n\n\nIn product trials conducted by Limoneira, Apeel-protected lemons demonstrated a significant difference in quality compared to other coatings. Apeel-protected lemons exhibited reduced water loss, shrivel, and color change or “bronzing”, including when tested in ambient conditions. This validates that Apeel’s technology allows citrus to retain its quality for longer regardless of how they are stored or merchandised, which improves Limoneira’s strategic position for market opportunities with retail and food service customers demanding a more sustainable approach to providing the highest quality, freshest produce.\n\n\nHarold Edwards, President and Chief Executive Officer of Limoneira, stated, “We are excited to be working with Apeel to generate greater supply chain flexibility, maintain higher quality lemons, decrease costs, and reduce waste all to the benefit of our growers, customers, shoppers, and the environment.” Mr. Edwards added, “Since 1893, Limoneira has been a leader in the ‘what’s next’ category and we see offering Apeel-protected lemons as a truly natural next step to continue delivering the World’s Best Lemons.”\n\n\n“A...