April 8, 2021

By Lynda Kiernan, Global AgInvesting Media

Florida-based, family-owned, vertically integrated citrus grower, packer, and shipper IMG Citrus announced it has acquired a 2,500-acre grove through a deal that expands its total acreage under management in the state by 27 percent, to 11,387. 

Formerly known as the Chiquita Grove, the property, which was planted in the 1990s has been renamed the Imagine Grove by IMG Citrus, in reference to an existing IMG Citrus brand and their optimism for the future.

The property was acquired by IMG from the Packers of Indian River – the same company from which IMG Citrus acquired its 3,928-acre Happy Food Grove in 2019, and its 562-acre Sweet 60 Groves in 2017.

This deal continues the long relationship between The Packers of Indian River and IMG, which will be onboarding the team of employees connected with the grove, of which some have a 30-year history. 

Located in Charlotte County, the parcel is a mixed-use farm producing citrus, including red grapefruit (Ruby Red, Star, Flame, and Ray), Navel oranges, Cara Cara oranges, vegetables, and sod. 

“This property has historically produced very high-quality red grapefruit for which Florida is well known,” said Melanie Ressler, co-CEO (along with Timothee Sallin and Chloe Gentry) IMG Citrus. “It is exciting to further deepen our offering to our customers and consolidate our position as the leading Florida fresh grapefruit grower.”

IMG intends to expand the planted acreage on the site beginning with an additional 60 acres of grapefruit in the fall of this year, and over the coming three years plans to invest $1.5 million in CAPEX through the addition of new equipment and upgrades to the infrastructure on the property. Once this new infrastructure is in place, IMG Citrus stated that it is considering expanding in the production of watermelons.

Furthermore, as a diversified company, the ability to integrate a landscape business through the sod acreage on the Imagine Grove is a novel development opportunity for IMG. Currently at 60 acres, IMG is planning on redeveloping the sod operation to its full capacity of 2019 acres of infrastructure.

The sod produced through this business will likely be marketed under the brand Cherrylake, reflective of Cherrylake Inc., a sister company of IMG Citrus that is one of the largest wholesale producers of ornamental trees, palms, and shrubs in the Southeast U.S.

Along with its various and diversified production models, the acquisition of the Imagine Grove also will provide IMG the ability to be stewards of conservation land. 

“There are also a total of 752-acres of wetlands on the property with endless amounts of nature and beautiful wildlife,” said Ressler. “This property showcases what really drives our purpose as a farmer. By sustainably managing producing acres and conserving wetlands, we can grow delicious citrus while also diligently conserving our natural resources.”

– Lynda Kiernan is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Oilseed & Grain News. She can be reached at lkiernan@globalaginvesting.com.