Tropicana Supplier to End Citrus Output on Disease, Storms (2)

Alico Inc., one of the biggest US orange growers and a supplier to Tropicana, will wind down its citrus division after disease and hurricanes have driven a decades-long decline in production.

The Florida-based company won’t invest further in its citrus operations after the current crop is harvested in 2025, and instead will transform into a diversified land company, Alico said in a Monday statement.

Shares of Alico were up as much as 29% on Monday, the most intraday in almost 16 years.

The shift comes as Florida’s citrus industry has struggled for decades from a devastating disease called ...