Alico, Inc. on Jan. 15 announced the sale of approximately 2,950 acres of citrus grove in Hendry County for $26.8 million. The company also announced that it has made significant progress in its plans to generate cashflow from its agricultural assets. Those actions have advanced its strategic transformation from traditional citrus operations to a diversified land company.
According to Alico, previously announced transactions completed in early fiscal year 2026 included the sale of 579 acres of citrus land for $6.1 million in gross proceeds.
Following the signing of new lease agreements this month, Alico has now achieved 97% utilization of its approximately 32,500 farmable agricultural acres.
The company’s land management programs now include fee-generating or revenue-sharing agreements with citrus growers, cattle operators, mining operators, sugarcane producers and sod farming and leasing. These programs have created diversified revenue streams that reduce operational complexity while maintaining productive agricultural use of the land.
“These land sales represent the successful continuation of our strategic transformation that began in fiscal year 2025, demonstrating our ability to unlock substantial value from our land portfolio,” said John Kiernan, president and chief executive officer of Alico. “Equally significant is our utilization of 97% of our farmable land, which continues to demonstrate our commitment to remain part of the Florida agricultural community.”
On Jan. 6, 2025, Alico announced that it would cease citrus operations after the 2024–25 season’s harvest. The company, previously one of Florida’s largest citrus producers, cited increasing financial challenges from citrus greening disease and environmental factors.
“We’ve explored all available options to restore our citrus operations to profitability, but the long-term production trend and the cost needed to combat citrus greening disease no longer supports our expectations for a recovery,” Kiernan stated in early 2025.
Source: Alico
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