Profile: Alico Inc (ALCO.O)
24 Mar 2017
Alico, Inc., incorporated on February 1, 1960, is an agribusiness and natural resources management company. The Company's segments include Orange Co., Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co. segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing and hauling of citrus. The conservation and environmental resources segment includes activities related to cattle grazing, sod, native plant and animal sales, leasing, management and/or conservation of unimproved native pasture land. The other operations segment consists of activities related to rock mining royalties, oil exploration and other insignificant lines of business. Its cattle operation is engaged in the production of beef cattle and is located in Hendry and Collier Counties. As of September 30, 2016, the Company owned approximately 122,000 acres of land located in 12 Florida countries, including approximately 90,000 acres of mineral rights.
The Company owns and manages citrus land in Alachua, DeSoto, Polk, Collier, Hendry, Charlotte, Highlands, Osceola, Martin, and Hardee Counties, and engages in the cultivation of citrus trees to produce citrus for delivery to the fresh and processed citrus markets. As of September 30, 2016, Orange Co. citrus groves totaled approximately 48,000 gross acres of the Company's land holdings. The Orange Co. segment cultivates citrus trees to produce citrus for delivery to the processed and fresh citrus markets. The Company produces Early and Mid-Season varieties, which include Hamlin oranges, as well as a Valencia variety for the processed market. As of September 30, 2016, the Company delivered fruits to the processors in boxes, which contained approximately 90 pounds of oranges. The Company produces a range of fresh fruit market, including grapefruit, navel and other fresh varieties.
Conservation and Environmental Resources
The Company owns and manages conservation and environmental resources land in Collier and Hendry Countries, and engages in cattle production, sod and native plant sales, land leasing for recreational and grazing purposes, and conservation activities. As of September 30, 2016, the Company's land holdings totaled approximately 71,000 gross acres of its total acreage. As of September 30, 2016, the breeding herd consisted of approximately 8,700 cows and bulls. The Company sells calves to feed yards and yearling grazing operations in the United States. The Company also sells cattle through local livestock auction markets and to contract cattle buyers in the United States. These buyers provide ready markets for its cattle.
The Company's other operations segment includes activities related to owning and/or leasing improved farmland. Improved farmland is acreage that has been converted, or is permitted to be converted, from native pasture and which may have various improvements, including irrigation, drainage and roads.
10070 Daniels Interstate Ct Ste
FORT MYERS FL 33913-7876