Atlantic Blue Plans To Sell Majority Stake In Alico
January 29, 2013 at 12:00 am
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Atlantic Blue Group, Inc. is planning to pursue the sale of its 50.6% stake in Alico Inc. Atlantic Blue urged Alico to explore a possible sale of the entire company. Also the Board of Directors has formed a Special Committee comprised of its independent Directors to investigate all transaction possibilities and to protect the interests of all shareholders In a SEC filing, Atlantic Blue said that it also met Alico representatives on January 28, 2013. JD Alexander, Alico's President and Chief Executive Officer, said, "While the Special Committee and Atlanticblue explore transaction possibilities, we will continue to implement the strategy which resulted in the Company being recognized as one of Investor Business Daily's Best of 2012."
Alico, Inc. is an agribusiness and land management company. The Company is engaged in the sale of its citrus products, providing services to citrus groves owned by third parties, and grazing and hunting leasing. Its segments include Alico Citrus and Land Management and Other Operations. Alico Citrus segment is engaged in planting, owning, cultivating and/or managing citrus groves 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. Its Land Management and Other Operations segment includes activities related to native plant sales, grazing and hunting leasing, management and/or conservation of unimproved native pastureland and activities related to rock mining royalties and other insignificant lines of business. It owns over 73,000 acres of land and 90,000 acres of mineral rights throughout Florida.
ALICO, INC. 
