The new agreement runs through July 31, 2024.
FORT MYERS — One of the largest citrus producers in the country, Fort Myers-based Alico, has entered into two new agreements with its largest customer to supply citrus fruit.
The agreements, according to a statement, are effective October 1 and conclude July 31, 2024. The agreements succeed an existing agreement set to expire at the end of September 2020, the release adds.
“We are pleased to announce that we have extended our relationship with our largest customer for four more years,” Alico President and CEO John Kiernan says in the statement. “Alico is proud of the successful business relationship we have been able to develop with this customer in recent years and we are both committed to meeting the challenges facing the Florida citrus industry with near-term patience and long-term focus.
“These new supply agreements, in connection with our other continuing agreements, commit substantially all of our citrus fruit and incorporate certain increasing pricing provisions over the next several seasons,” Kiernan adds in the statement.
Alico operates Alico Citrus and Alico Water Resources and Other Operations, a leading water storage and environmental services division. It posted $122.35 million in revenue in 2019 and is publicly-traded (Nasdaq: ALCO).