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Maui Land & Pineapple Company, Inc. Announces Strategic Evaluation of Water Source and Transmission Assets
KAPALUA, Hawai‘i , Sept. 10, 2025 (GLOBE NEWSWIRE) -- Maui Land & Pineapple Company, Inc. (NYSE: MLP), today announced that a comprehensive strategic review has been underway and a subcommittee of the Company’s board of directors was created to identify options for the potential sale or lease of the Company’s water source and infrastructure assets. This review and marketing of certain assets for sale began in early 2025. MLP owns critical water-related assets on Maui, including source, storage,
About this update from Maui Land & Pineapple Company, Inc.
[{"type":"image","alt":"Maui Land & Pineapple Company, Inc.","displaySize":"","headline":null,"caption":"Maui Land & Pineapple Company, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":88,"url":"https://media.zenfs.com/en/globenewswire.com/05d95a1dac16a2e1b91e9e55dc8cee07"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/uFSxMBi.NxIz26_83lVykg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/05d95a1dac16a2e1b91e9e55dc8cee07","width":300,"height":88}},"lazy":false},{"type":"text","content":"KAPALUA, Hawai‘i , Sept. 10, 2025 (GLOBE NEWSWIRE) -- Maui Land & Pineapple Company, Inc. (NYSE: MLP), today announced that a comprehensive strategic review has been underway and a subcommittee of the Company’s board of directors was created to identify options for the potential sale or lease of the Company’s water source and infrastructure assets. This review and marketing of certain assets for sale began in early 2025.","length":428,"tagName":"p"},{"type":"text","content":"MLP owns critical water-related assets on Maui, including source, storage, and transmission systems. In Upcountry Maui, assets include the Pi‘iholo Well, with an estimated capacity of over 1 million gallons per day, along with land for additional well sites, pumps and storage facilities. West Maui water assets include a collection of high-quality groundwater wells and a surface water system which serves the County of Maui for a large portion of Lahaina’s drinking water along with irrigation use in Kapalua and surrounding areas.","length":533,"tagName":"p"},{"type":"text","content":"“For more than a century, MLP has invested tens of millions of dollars to construct and responsibly manage critically important water infrastructure in communities across Maui,” said Race Randle, CEO of Maui Land & Pineapple Company, Inc. “With Maui communities in need of additional water sources and experiencing severe drought conditions, we’re hopeful that these assets may increase water security across the island.”","length":425,"tagName":"p"},{"type":"text","content":"The new subcommittee will be chaired by independent director Ken Ota. Born and raised on Maui, Mr. Ota is a respected expert with more than 30 years of experience with water, wastewater, and irrigation systems.","length":210,"tagName":"p"},{"type":"tex...