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- Asset Impairment (new) — Company disclosed a material $9.3 million impairment charge on property, plant and equipment related to the Paso Robles sale.
Limoneira to sell 80% of Paso Robles vineyard for $16M, records $9.3M impairment
Filed April 20, 2026 · Period ending April 14, 2026 · ~1 min read
Key Changes
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high
Subsidiary agreed to sell 80% interest in 724-acre Paso Robles property with grape vines and infrastructure for $16M ($10M cash at close, $6M seller-financed note secured by deed of trust)
Item 1.01 verify on EDGAR → -
high
Company will record approximately $9.3M non-cash impairment charge on property, plant and equipment in Q2 fiscal 2026 related to the sale transaction
Item 2.06 verify on EDGAR → -
medium
Transaction subject to buyer due diligence through July 1, 2026; buyer can walk away before then and reclaim $500K deposit. After July 1, deposit becomes non-refundable and company receives immediately
Item 1.01 verify on EDGAR →
Summary
Limoneira is exiting most of its Paso Robles vineyard operations by selling an 80% stake in a 724-acre property for $16 million. The deal includes $10 million cash upfront and $6 million in seller financing, meaning the company won't receive full proceeds immediately and takes on credit risk from the buyer.
The transaction triggered a $9.3 million impairment charge that will hit Q2 earnings, suggesting the property's book value significantly exceeded its market value. For retail investors, this represents a strategic shift away from Paso Robles wine grape operations and will provide cash to potentially redeploy elsewhere or reduce debt.
However, the large impairment raises questions about asset valuation practices and whether other properties may face similar writedowns. The deal isn't final until July 1, 2026, when the buyer's due diligence period ends. Watch for management commentary on how the $10 million cash proceeds will be used and whether the company plans additional asset sales. Also monitor whether the $6 million note gets paid on schedule and if there are further impairments across the portfolio.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On April 14, 2026, Windfall Investors, LLC, a California limited liability company and subsidiary of Limoneira Company (the “Company”) entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Peak Holdings, LLC, a California limited liability company (the “Buyer”) pursuant to which the Company will sell to the Buyer an eighty-percent (80%) undivided tenant-in-common interest in the Company’s real estate parcels located in Paso Robles, California consisting of (i) 724 acres of land (the “Land”), (ii) certain improvements and structures situated on the Land including, grape vines and related infrastructure, (iii) to the extent assignable without cost by the Company, certain intangible property associated with the Land including, licenses, permits, development approvals and plans, and (iv) all other rights, privileges, easements and appurtenances to the Land and improvements such as mineral rights, development rights and air rights.
The Company's subsidiary entered into an agreement to sell an 80% ownership interest in a 724-acre Paso Robles property that includes land, grape vines, infrastructure, and associated rights. This represents a significant asset disposition that will reduce the Company's real estate holdings and vineyard operations in the Paso Robles region.
Event · Item 2.06 — Material Impairments
Item 2.06 — Material Impairments filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
As a result of the transactions contemplated by the Purchase Agreement, we determined on April 14, 2026 that we will recognize an impairment of property, plant and equipment to be recorded in the second quarter of fiscal year 2026, which is currently estimated to be approximately $9,300,000.
Limoneira disclosed it will record an impairment charge of approximately $9.3 million on property, plant and equipment in Q2 fiscal 2026. The impairment stems from transactions under a Purchase Agreement determined on April 14, 2026. This non-cash charge will reduce asset values and impact reported earnings for the quarter.
Event · Item 9.01 — Financial Statements and Exhibits
Limoneira disclosed a purchase and sale agreement dated April 14, 2026, between Windfall Investors, LLC and Peak Holdings, LLC.
Added in current filing · verify on EDGAR →
Purchase and Sale Agreement, dated as of April 14, 2026, by and between Windfall Investors, LLC and Peak Holdings, LLC.
Limoneira filed an 8-K to disclose a purchase and sale agreement executed on April 14, 2026, involving Windfall Investors, LLC and Peak Holdings, LLC.Without the full agreement or additional context, investors cannot assess the materiality or impact of this transaction on the company.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 10, 2026 · How we verify