Los Angeles billionaires Stewart and Lynda Resnick’s Paramount Citrus company said Monday that it is entering the Persian lime market with the acquisition of 9,500 acres of lime orchards in the state of Tabasco, Mexico.
The company, which has signed a definitive purchase agreement with a group of private landowners, said that it plans to rehabilitate the land, including replanting some of the fields, to increase production. Terms of the deal were not disclosed.
“This property makes Paramount Citrus one the largest fully integrated growers and shippers of limes year-round, which is tremendously important to the retail and food service industry in North America,” said President David Krause in a statement.
Based in the Central Valley town of Delano, Paramount Citrus is considered the largest integrated grower, shipper and packer of fresh citrus in the United States, with crops that include oranges, lemons, and Clementine mandarins.
In an earlier effort to become a year-round grower, the company in 2008 acquired 6,000 acres of lemon orchards near Victoria, Mexico. It rehabilitated that property and also is planting 2,000 acres of limes there. It plans to open a 100,000-square foot packing facility at the site later this year.
The company is part of West Los Angeles-based Roll Global, which holds the Resnicks’ POM Wonderful Pomegranate Juice, FIIJI Water, Wonderful Pistachios and other specialty food companies. Its last major acquisition was in December, when Fiji Water acquired a vineyard and winery in Paso Robles.
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