Alico, Inc. announced it has entered into two new agreements with its largest customer to supply citrus fruit. These agreements are effective October 1, 2020 and conclude on July 31, 2024 and succeed an existing agreement that is set to expire at the end of September 2020.
John Kiernan, Alico’s President and Chief Executive Officer, commented, “We are pleased to announce that we have extended our relationship with our largest customer for 4 more years. Alico is proud of the successful business relationship we have been able to develop with this customer in recent years and we are both committed to meeting the challenges facing the Florida citrus industry with near-term patience and long-term focus. These new supply agreements, in connection with our other continuing agreements, commit substantially all of our citrus fruit and incorporate certain increasing pricing provisions over the next several seasons.”