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Major citrus producer winding down operations

Alico Inc. announced a strategic transformation to become a diversified land company with each of its properties now expected to create profitable agricultural revenue opportunities that are not citrus-related until the highest and best use for these acres can be realized.

Alico owns approximately 53,371 acres of land across eight counties in Florida, as well as approximately 48,700 acres of oil, gas and mineral rights in the state. Alico Citrus, which holds the company’s citrus production operations, has faced increasing financial challenges from citrus greening disease and environmental factors for many seasons. The company has decided to not spend further capital on its citrus operations after the current crop is harvested in 2025. It will focus its resources on creating new opportunities for profitable growth while also acting prudently on behalf of shareholders.

Alico expects to maintain its commitment to the Florida agriculture industry through diversified farming operations on nearly all its land holdings following this citrus production transition. Alico also expects to entitle certain parcels of its land for commercial and residential development.

“For over a century, Alico has been proud to be one of Florida’s leading citrus producers and a dedicated steward of its agricultural land, but we must now reluctantly adapt to changing environmental and economic realities," said said John Kiernan, Alico’s president and CEO. "Our citrus production has declined approximately 73 percent over the last 10 years, despite significant investments in land, trees and citrus disease treatments, and the current harvest will likely be lower in volume than the previous season.

"The impact of Hurricanes Irma in 2017, Ian in 2022 and Milton in 2024 on our trees, already weakened from years of citrus greening disease, has led Alico to conclude that growing citrus is no longer economically viable for us in Florida,” said Kiernan.

Alico plans to wind down Alico Citrus’ primary operations, which will include reducing most of its citrus production workforce effective immediately. The company expects that approximately 3,460 citrus acres will be managed by third-party caretakers for another season through 2026.

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