Alico, Inc. announced a strategic transformation on January 6, 2025, stating it will wind down its Alico Citrus division's primary operations to focus on a long-term diversified land usage and real estate development strategy. This decision follows a 73% decline in citrus production over the last decade due to persistent citrus greening disease and hurricane impacts.
The company plans to systematically reduce its citrus production workforce, with up to 172 positions affected, including 135 employees by January 6, 2025, and the remainder by April 1, 2025. Alico will complete its final harvest for the majority of its remaining approximately 3,783 operational acres in fiscal year 2026.
Alico aims to unlock significant value from its approximately 51,300 acres of land holdings, which management estimates to have a present value between $650 million and $750 million. The new strategy will leverage these assets through diversified land usage and strategic real estate development, moving away from the volatility of large-scale citrus farming.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.