Alico, Inc. Closes $26.8 Million Land Sale, Achieving 97% Agricultural Utilization
FORT MYERS, Fla., January 15, 2026 – Alico, Inc. (Nasdaq: ALCO) has completed a significant grove sale, marking a pivotal point in its transformation from a traditional citrus business to a diversified land management company. The company successfully sold approximately 2,950 acres of citrus land in Hendry County for gross proceeds of $26.8 million, part of a larger strategy to generate cash flow from its agricultural assets.
Details of Recent Land Sales
The recent sale is a milestone in Alico's ongoing land monetization efforts. Combining this latest transaction with earlier fiscal year sales, Alico has now closed land transactions totaling $34.6 million in fiscal 2026. Notable sales include:
- 579 acres of citrus land for $6.1 million
- Office and shop facility in Frostproof for $1.7 million
These achievements underscore Alico's strategic repositioning within the agricultural sector.
High Agricultural Utilization Rates
Following the signing of new lease agreements, Alico has achieved a remarkable 97% utilization rate of its approximately 32,500 farmable agricultural acreage. The company has diversified its land management strategies, incorporating revenue-generating agreements with:
- Citrus growers
- Cattle operators
- Mining operators
- Sugarcane producers
- Sod farming and leasing
These initiatives have resulted in reduced operational complexity and enhanced agricultural productivity across approximately 89% of Alico’s total agricultural acres.
Strategic Insights from Leadership
John Kiernan, President and CEO of Alico, remarked, “These land sales represent the successful continuation of our strategic transformation that began in fiscal year 2025, demonstrating our ability to unlock substantial value from our land portfolio.”
He further noted the significance of the 97% utilization of farmable land, reinforcing Alico's commitment to the Florida agricultural community and optimizing land holdings for diversified agricultural operations.
Financial Performance and Outlook
As of September 30, 2025, Alico reported total debt of $85.5 million, down from $92.1 million at the end of fiscal year 2024. With $38.1 million in cash, the net debt position improved to $47.4 million.
This enhanced financial flexibility, along with proceeds from land sales and agricultural leasing revenue, positions Alico favorably to further advance its development projects. In April 2025, the Board of Directors authorized a $50 million stock buyback program, set to expire on April 1, 2028, as part of its commitment to creating shareholder value.
About Alico, Inc.
Alico, Inc. (Nasdaq: ALCO) is a Florida-based agribusiness with a legacy spanning over 125 years. Following its strategic transformation in 2025, Alico now operates as a diversified land company, stewarding approximately 49,537 acres across eight Florida counties. The company focuses on strategic land development opportunities aimed at creating long-term shareholder value through responsible land stewardship and conservation.
For more information, visit alicoinc.com.