This adds to an existing 22,500 acres of directly operated pistachio and citrus orchards located throughout California
Manulife Investment Management announces two agricultural acquisitions totalling more than 1,400 acres in Fresno County, California.
The orchards are favourably located in California’s Central Valley, a key US agricultural and tree nut production region, with high-quality water rights. The acquired properties add to an existing 22,500 acres of directly operated pistachio and citrus orchards located throughout California, providing an opportunity to benefit from economies of scale in the region.
“We are proud to add these high-quality orchards to our permanent crop portfolio, managed by our experienced direct-operation team of agricultural professionals, for the benefit of our investors,” said Oliver Williams, global head of agriculture investments, Manulife Investment Management. “We believe that orchards, as a nature-based solution, can provide both economic returns to our investor clients along with social and environmental benefits. Producing healthy, nutritious food while responsibly managing these natural resources can also contribute positively to vibrant rural communities, such as the ones surrounding these investments.”
