Form 8-K ALICO INC For: Dec 02
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Alico (ALCO) Acquires Three Florida Citrus Producers in ~$363M Transaction
December 3, 2014 7:14 AM ESTAlico (NASDAQ: ALCO) announced the acquisition of three Florida citrus producers for total consideration of approximately $363 million. These acquisitions will make Alico's citrus division the largest citrus producer in the United States, with total pro forma 2014 production of 10 million boxes annually.
The acquisitions, based on 2014 performance, would have increased Alico's Adjusted EBITDA from $21 million on a standalone basis to approximately $58 million on a pro forma basis, excluding the impact of anticipated synergies, which, when fully phased in, are expected to add approximately $5 million of incremental EBITDA annually. Similarly, the transactions would have increased... More
