CoreCivic Inc. Expands with $67M Acquisition of Farmville Detention Center

CoreCivic, Inc., a leading American company specializing in detention and correctional services, has announced a significant expansion in its operations. On June 10, 2025, the company entered into a definitive agreement to acquire the Farmville Detention Center, a 736-bed facility located in Farmville, Virginia. This acquisition, valued at $67 million, marks a strategic move to enhance CoreCivic’s portfolio of immigration solutions.

The Farmville Detention Center, constructed in 2010, provides transportation, care, and civil detention services to adult male noncitizens. The facility operates under an Intergovernmental Service Agreement with Prince Edward County, Virginia, and U.S. Immigration & Customs Enforcement (ICE). The acquisition will see CoreCivic acquiring 100% of the membership interests in the entities that own the facility, further solidifying its position in the correctional services industry.

Financial Overview

CoreCivic, Inc. is listed on the New York Stock Exchange under the ticker symbol CXW. As of June 8, 2025, the company’s close price was $22.29, with a market capitalization of $2.36 billion. The company’s 52-week high was $24.99, reached on November 7, 2024, while the 52-week low was $11.23, recorded on June 20, 2024. CoreCivic’s price-to-earnings ratio stands at 28.17.

Recent Developments and Challenges

In addition to the acquisition, CoreCivic faces legal challenges. A lawsuit has been filed against the company following the death of an inmate a day before his release. This incident has brought attention to the safety records at CoreCivic’s facilities, particularly those in Tennessee.

Market Implications

The acquisition of the Farmville Detention Center comes at a time when immigration enforcement in the United States is intensifying. Analysts suggest that private prison stocks, including CoreCivic, could benefit from increased federal contracts and heightened immigration crackdowns. Recent ICE raids in Los Angeles, resulting in over 100 arrests, have underscored the potential for growth in this sector.

CoreCivic’s strategic acquisition and the broader market dynamics present both opportunities and challenges for the company as it navigates the evolving landscape of detention and correctional services.