Mosaic Completes Sale of Streamsong Resort
TAMPA, FL – The Mosaic Company (NYSE:MOS) today announced that it has completed the sale of Streamsong Resort, one of the world’s leading golf destinations, and approximately 7,000 acres of land on which it sits to Lone Windmill LLC, a subsidiary of Kemper Sports Management LLC.
Chicago-based KemperSports has managed the golf business at Streamsong since the resort opened in 2012, and it has managed the entire resort for the past two years as part of its KemperDestinations division.
The purchase price for the resort and real estate was $160 million. Mosaic intends to use approximately a quarter of the proceeds of the sale to provide long-term funding for the company’s global community investment activities. The remainder of the proceeds are available for general corporate purposes and are subject to Mosaic’s usual capital allocation strategy, including potential shareholder returns.
“For 10 years Streamsong has demonstrated Mosaic’s ability to put formerly mined land to economically and environmentally productive use,” said Mosaic President and CEO Joc O’Rourke. “It has always been our intention to identify the right long-term steward of Streamsong, and we have clearly done that with KemperSports. Kemper has been an outstanding partner for many years, and we have every confidence that they will continue to build upon Streamsong’s remarkable record of delivering best-in-class guest experiences while providing meaningful employment opportunity and economic impact in Central Florida.”
“Streamsong has generated great value for Mosaic and its shareholders, and this transaction demonstrates Mosaic’s steadfast commitment to disciplined asset and capital management,” O’Rourke said. “In addition, funding our community investment work with a portion of the proceeds from the sale ensures that our communities will continue to benefit from Streamsong’s legacy for many years to come.”
“We have always valued our partnership with Mosaic, and it is a privilege now to be carrying on the legacy of Streamsong, a place that is so highly regarded by the golf community,” said Steve Skinner, KemperSports CEO. “Our team has and will continue to prioritize elevating our guest experience and resort offerings, which includes the development of our new fourth course, The Chain, designed by Bill Coore and Ben Crenshaw. We are thrilled with the opportunity to continue to invest in and grow the resort.”
About Streamsong Resort
Streamsong® Resort was developed by The Mosaic Company in 2012 and is founded on a commitment to its surrounding resources. This year, Streamsong is celebrating its 10th anniversary of providing unparalleled experiences and operational excellence to guests across the globe. From awe-inspiring golf courses and legendary bass fishing and sporting clay shooting to sumptuous dining and ethereal spa experiences, Streamsong operates in concert with its environment. This deep appreciation for the land’s inherent beauty has helped to create an unparalleled luxury golf resort, including 228 spacious accommodations in a modern lakeside lodge and clubhouse. Leading golf and hospitality management company KemperSports has managed golf course operations since 2012 and resort operations since 2021. For more information, visit www.streamsongresort.com .
About The Mosaic Company
With the global population expected to reach 9 billion by 2050, food security is an ever-growing challenge that The Mosaic Company will help meet. Our 13,000 women and men in 8 operating countries produce and deliver millions of tonnes of responsibly produced phosphate and potash fertilizers from mine to market – nutrients that are vital to feed crops which feed people everywhere – and serve farmers in 40 countries by helping them increase crop yields and improve nutrition for people and animals. We pursue our mission to help the world grow the food it needs responsibly and sustainably: We are committed to being good stewards of the environment by reducing our water use and greenhouse gas emissions, good neighbors through strong partnerships with our host communities, and by being a more diverse and inclusive company where every person feels valued and appreciated.
KemperSports is a leading sports, entertainment and hospitality company that delivers operational excellence in property and experience management. Headquartered in Chicago with regional offices throughout the U.S., KemperSports manages more than 150 golf courses, private clubs, sports venues, and destination resorts nationwide. It has more golf properties named among the top 100 U.S. public and resort courses as rated by GOLF Magazine, Golf Digest, and Golfweek than any other management company. For more information about KemperSports, visit www.kempersports.com .
Taryn Parker, KemperLesnik
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