Private investment company 734 Agriculture, owned by Remy W. Trafelet and George R. Brokaw in partnership with global food and agricultural investment firm Arlon Group, founded by Continental Grain Co., have entered into an agreement to buy a 50.5% stake in the agribusiness and land management company Alico Inc. The cost of the all-cash purchase equals $137.8 million and is scheduled to close in the fourth calendar quarter of 2013. Alico Inc. is an agribusiness and land management company with principal focus in citrus groves, sugar cane, cattle ranches and resource conservation. It is one of the largest private land owners in the state of Florida owning 13,800 acres with 11,000 producing citrus acres.
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