Maui Land & Pineapple Returns to Agricultural Roots with New Agave Initiative

Maui Land & Pineapple Company, Inc. (NYSE: MLP) is returning to its farming roots, launching a new agricultural initiative to cultivate blue weber agave on former pineapple fields in Upcountry Maui. This marks the company’s first direct return to farming since ending its pineapple operations in 2009.

More than 12,000 blue weber agave plants are currently growing in a local nursery, with plans to plant the first 120-acre phase by the end of the year. The crop’s low water needs and minimal maintenance requirements make it well suited for revitalizing former agricultural lands while helping reduce wildfire risk.

“We believe this new venture represents a significant opportunity to create long-term growth potential for the company which may be funded partially in partnership with mission-aligned partners. Our strategy complements our ongoing leasing and development projects while utilizing our prime landholdings to enable revenue upside potential from vertical integration with on-island distillation, regenerative agri-tourism, local distribution, and global expansion,” said CEO Race Randle.

To learn more about MLP’s approach to agriculture and the details behind this exciting new venture, read the full article in the Honolulu Star-Advertiser linked here.