Alico, Inc. has completed the sale of a large citrus grove in Hendry County as part of its ongoing shift away from traditional citrus production toward a broader land-based business model.
The company closed the transaction for approximately 2,950 acres (1,193.82 hectares), generating gross proceeds of US$26.8 million. The sale follows earlier transactions completed in the first part of fiscal year 2026, including the sale of 579 acres of citrus land for US$6.1 million and the sale of an office and workshop facility in Frostproof for US$1.7 million. Together, these transactions represent US$34.6 million in gross proceeds recorded during fiscal year 2026 to date.
© Alico
Following the execution of new lease agreements during the month, Alico reported that 97 per cent of its approximately 32,500 farmable agricultural acres are now in use. Across its total agricultural landholding of roughly 46,000 acres, utilisation stands at about 89 per cent. Current land use arrangements include leasing or revenue-sharing agreements with operators active in citrus production, cattle grazing, mining, sugarcane cultivation, and sod farming.
According to the company, these agreements are intended to maintain agricultural use while diversifying income sources and reducing direct operational involvement. The land portfolio is managed through a combination of fixed-fee and shared-revenue structures, depending on the activity.
As of September 30, 2025, Alico reported total debt of US$85.5 million, compared with US$92.1 million at the end of fiscal year 2024. With cash holdings of US$38.1 million at the same date, net debt stood at US$47.4 million. The company noted that this represents a change in its overall debt position entering fiscal year 2026.
The proceeds from land sales and ongoing agricultural lease revenue are expected to support future development activities and general operations. In April 2025, the board of directors approved a share repurchase programme of up to US$50 million, scheduled to run until April 1, 2028. The board continues to review options related to capital allocation, including potential returns to shareholders.
Alico stated that its focus for the current fiscal year includes managing its agricultural land base through leasing arrangements while progressing planned development projects.
For more information:
John Mills
Alico
Tel: +1 646 277 1254
Email: [email protected]
www.alicoinc.com
Brad Heine
Alico
Tel: +1 239 226 2000
Email: [email protected]
