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State of Florida approves option agreement with Alico to acquire approximately 5,804 acres of Alico Ranch

Alico, Inc. announced that the State of Florida approved entering into an option agreement submitted by Alico which grants the State an option to purchase approximately 5,804 acres of Alico Ranch for approximately $14.6 million under the Florida Forever program.

John Kiernan, Alico’s President and Chief Executive Officer, commented, “We are pleased the State of Florida has approved entering into this latest option agreement which grants it an option to purchase approximately 5,804 acres on the west side of the Alico Ranch. The 5,804 acre parcel is considered a primary and secondary zone for the federally endangered Florida panther and can contribute to increased protection of Florida’s biodiversity at the species, natural community, and landscape levels.

If the State were to elect to exercise this option, we would expect the closing to occur in the beginning of the third quarter of our 2021 fiscal year. Over the last two years, Alico has sold approximately 16,000 acres of pristine land to the State of Florida for permanent protection under the Florida Forever program. These transactions in aggregate are intended to preserve sensitive lands for Florida's future, enhance protections for the Florida Panther, and protect the health of the Caloosahatchee River and the Western Everglades Basin.”

Mr. Kiernan continued, “As it has for generations, Alico will continue to support conservation and land management programs on the remaining acres of the Alico Ranch, which are currently leased for recreational hunting and cattle grazing activities.”

For more information:
Richard Rallo
Alico Inc
Tel: +1 (646) 277-1254

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