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Sale of Temecula, California Packinghouse
3 Months Ended
Jan. 31, 2019
Sale of Temecula, California Packinghouse  
Sale of Temecula, California Packinghouse

16.    Sale of Temecula, California Packinghouse

 

    In January 2019, we entered into an agreement to sell our Temecula, California packinghouse for $7.1 million in cash and, concurrently, leaseback a portion of the facility representing approximately one-third of the total square footage.  The contract is subject to terms that are usual and customary for real estate sales of this nature and is expected to close during our second fiscal quarter of 2019. 

 

    Included in our Property, Plant and Equipment is our Temecula, California packinghouse that is currently being held-for-sale.  The Net Book Value of this held-for-sale property is approximately $0.7 million.