Alico Inc. to wind down citrus division; cites greening as reason

Alico Inc., a company deep-rooted in Florida, has announced the diversification of its Alico Citrus division to focus on being a land company.

The announcement made on Monday reports a strategic transformation to become a diversified land company.

Each of its properties is 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.

The company owns around 53,371 acres of land across eight counties in Florida and approximately 48,700 acres of oil, gas, and mineral rights in the state.

In the company’s statement, Alico Inc. cited the shift into becoming a land company due to increasing financial challenges from citrus greening disease and environmental factors for multiple seasons.

Due to the financial decline, the company decided not to spend further capital on its citrus operations after the crop harvested in 2025, opting to focus on land.

Alico Inc. provided a strategic list to follow as it makes its transition into a primarily land-focused company:

• Expects to recognize positive cash flow for the remainder of the fiscal year once land sales have already been negotiated close, severance and restructuring costs are realized, and harvesting activities conclude.
• Anticipates that cash reserves at the end of the 2025 fiscal year will be sufficient to meet future operating expenses for at least two additional years without requiring further land sales.
• It is estimated that approximately 75% of its current land holdings will likely remain agriculturally focused for the foreseeable future.
• It expects that approximately 25% of its land holdings have near- and long-term potential for commercial and residential development, with approximately 10% of its acres targeted for development within the next five years.
• Management estimates that our current landholdings could be worth approximately $650 million to $750 million, with 75% of these acres valued for agricultural usage.

The citrus company is a large provider of jobs in Florida.

Alico Inc. addressed the concern of job losses due to this transition, saying, “The company expects that approximately 3,460 citrus acres will be managed by third-party caretakers for another season through 2026.”