Nevada-based company buys almost 5,000 acres of orange grove land

A company based in Henderson, Nevada, wants a slice of Florida’s orange grove business.

QC DeSoto Grove Ventures LLC, a Florida affiliate of Nevada company Quarry Capital, spent $30 million between two transactions to purchase almost 5,000 acres of orange grove land in rural Florida on March 8. The acreage is split between groves in Manatee, DeSoto, Highlands and Hardee counties.

Approximately 1,300 acres are located in East Manatee County and were purchased from Brandon-based Florida Land Management Inc. and CFI USA Inc., an affiliated company of Florida Land Management. The Manatee County land is spread between areas near Lake Manatee, Myakka City and Duette.

Florida Land Management purchased 340 acres of the land from Beton Citrus Inc. in 1988 for $1.9 million.

The remaining acreage involved in the March 8 transaction was purchased by Florida Land Management between 1989 and 2005 from a variety of sellers for $4.27 million.

Representatives for Florida Land Management and Quarry Capital could not be reached for comment.

This story was originally published March 21, 2017 at 3:53 PM with the headline "Nevada-based company buys almost 5,000 acres of orange grove land."