Louis Dreyfus Company LLC reported entry into a definitive agreement to sell business and assets in regards to Imperial Sugar Company to U.S. Sugar. “Imperial Sugar has a strong company heritage and looks forward to joining the U.S. Sugar family,” said Mike Gorrell, President & CEO, Imperial Sugar. “I am confident that the move will create production, logistics and supply chain synergies and efficiencies that will benefit both companies and our customers, as we continue to bring them the quality products and brands they know and expect.”
LDC had acquired Imperial Sugar back in 2012 as it operated a cane sugar refinery at Port Wentworth in Savannah Georgia, including a sugar transfer and liquification facility in Ludlow, Kentucky. The company sources raw cane sugar from Central and South America, and from the Caribbean. “We are confident that this transaction will enable Imperial Sugar to further expand its activities as part of U.S. Sugar, and we wish the business continued success in the future. For LDC, this strategic decision does not impact our broader sugar merchandizing business, to which we remain fully committed, and enables us to refocus resources on growing this core business, building on our strong global position,” said Enrico Biancheri, Global Head of LDC’s Sugar Platform.
“We will continue our work to connect North America’s farmers to international markets, and to bring products to the region from around the world, as we have done for over 100 years,” said Adrian Isman, LDC’s Head of North America. “With more than 1,000 employees working at over 50 offices, ports, warehouses and processing facilities across the US and Canada, we remain firmly committed to leveraging our network and expertise to grow our business in the region.” The transaction is expected to close within 2021 subject to certain customary closing conditions and regulatory approvals.