Limoneira Enters into Exclusive Licensing Relationship with Food System Innovation Company Apeel Sciences to Deliver the World’s Best Lemons
11 5월 2023 - 10:00PM
Business Wire
Apeel’s Technology will Open Additional
Channels and Market Opportunities for Limoneira
Limoneira Lemons Will be Differentiated by
Improving Product Quality and Vitality, Extending Shelf Life, while
Improving Supply Chain Efficiencies for Retail and Food Service
Customers
Limoneira 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.
In 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.
Harold 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.”
“Apeel’s technology brings with it a new set of opportunities
for the category and Limoneira’s customers,” says James Rogers,
Founder and Chief Executive Officer of Apeel Sciences. “Growers
working with Limoneira can expect access to new channels of
distribution, Retailers can expect energy and cost savings during
warehousing and distribution, and Consumers can expect an
experience they need to see to believe.” Mr. Rogers adds, “We are
excited about the near-term, but also for the longer term as we are
establishing a foundation for continuous incremental improvements
driven by the collective efforts of our like-minded companies.”
John Carter, Vice President of Citrus for Limoneira comments,
“The supply chain ultimately ends at the shopper’s countertop and
the restaurant table where quality acts as a positive reinforcement
to where the shopper makes their purchases. Utilizing Apeel
provides the opportunity to have a better first impression and more
importantly to have a greater ‘lasting impression’ which benefits
all stakeholders.”
About Limoneira Company
Limoneira Company, a 130-year-old international agribusiness
headquartered in Santa Paula, California, has grown to become one
of the premier integrated agribusinesses in the world. Limoneira
(lē moñ âra) is a dedicated sustainability company with 11,800
acres of rich agricultural lands, real estate properties, and water
rights in California, Arizona, Chile and Argentina. The Company is
a leading producer of lemons, avocados, oranges, specialty citrus
and other crops that are enjoyed throughout the world. For more
about Limoneira Company, www.limoneira.com.
About Apeel Sciences
Apeel is on a mission to create a more sustainable global food
system by working with nature to use the power of materials and
data sciences. Apeel's plant-based protection allows for
longer-lasting produce by using materials already found in the
skins, peels, and seeds of all fruits and vegetables. This
protective extra "peel" slows the water loss and oxidation that
causes produce to spoil, and it's the only proven solution for
maintaining freshness from farm to kitchen. Apeel's plant-based
protection is available for an ever-growing number of categories
and markets, including organic and conventionally grown produce.
Additionally, Apeel is integrating new tools that will allow the
food system to do more with the extra time created by Apeel's
plant-based protection. Farmers can sell more of what they grow,
retailers can sell more of what they source, and people can enjoy
more of what they buy, creating a healthier planet and greater
abundance for all. Apeel is Food Gone Good.
Apeel is a trademark/registered trademark of Apeel Technology,
Inc. in the United States, the European Union, and other
jurisdictions. To learn more, visit www.apeel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230511005113/en/
Investor: John Mills Managing Partner ICR
646-277-1254
Limoneira (NASDAQ:LMNR)
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Limoneira (NASDAQ:LMNR)
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