Jan 06, 2025
Tropicana Supplier Alico Cuts Citrus Operations As Greening Disease Bites, Eyes Growth In Real Estate; Stock Jumps
Alico, Inc. (NASDAQ:ALCO) shares traded higher on Monday after the Florida-based agribusiness and land management company announced key changes to its operations. Alico plans to wind down Alico Citrus’ primary operations, which will include reducing most of its citrus production workforce effective immediately. Alico’s Board approved reducing up to 172 positions, with 135 employees affected by January 6, 2025, and the remainder by April 1, 2025. Alico expects that approximately 3,460 citrus acre