Statement by Commissioner Putnam on Transaction Between AgReserves, Inc., and The St. Joe Company

Acquisition of Land by Agriculture Company Will Continue to Support Local Economy and Maintain Commitment to Stewardship

Tallahassee, FL – Commissioner of Agriculture Adam Putnam issued the following statement after AgReserves, Inc., and The St. Joe Company announced a sales agreement for the purchase of land in North Florida.

“This transaction between two of Florida's largest and most committed land stewards is a meaningful reminder of the economic and ecological value of agriculture in our state.

“The acquisition by AgReserves, Inc., of more than 380,000 acres in North Florida from The St. Joe Company reflects a long term investment in the state's timber and cattle industries.

“For decades, The St. Joe Company has played an important role in conserving the landscape of Florida's Panhandle, and AgReserves, Inc., will build on that commitment while continuing to support the local economy.

“I'm proud that a global agriculture company, like AgReserves, Inc., continues to believe in Florida as the right place to grow their business.”