American Sugar buys Tate & Lyle E.U. sugar unit
September 30, 2010
PALM BEACH COUNTY, FLA. — Florida Crystals Corp. and Sugar Cane Growers Cooperative of Florida on Sept. 30 said their subsidiary, American Sugar Refining, Inc. (A.S.R.), completed the acquisition of Tate & Lyle P.L.C.’s European sugar operations.
As part of the transaction, A.S.R. has acquired Tate & Lyle’s refineries in London and Lisbon, Portugal, bringing the company’s total refining capacity to six million tons per year. The acquisition also includes a license for use of the Tate & Lyle brand in connection with the sale of sugar.
“We are very proud of A.S.R.’s success, which is the product of our partnership with the Sugar Cane Growers Cooperative,” said Alfonso Fanjul, chairman and chief executive officer of Florida Crystals. “It is proof that working together leads to success.”
George H. Wedgworth, president and c.e.o. of Sugar Cane Growers Cooperative, added, “It’s pretty amazing to think about how a group of small vegetable farmers pooled their resources together almost 50 years ago, built a raw sugar processing plant, and now with the partnership of Florida Crystals have become vertically integrated to become the world’s largest sugar refiner. We are pleased with the relationships we have built and the quality brand names and products we produce and offer our customers.”
The acquisition marks the third large-scale transaction between A.S.R. and Tate & Lyle. In 2001, A.S.R. purchased Tate & Lyle North American Sugars, Inc. (Domino Sugar) and its three refineries. In 2007, A.S.R. acquired Tate & Lyle Canada Ltd. (Redpath Sugar), which included Canada’s largest refinery. Across North America, A.S.R. owns and operates six cane sugar refineries, located in Yonkers, N.Y.; Baltimore; Chalmette, La.; Crockett, Calif.; Toronto; and Veracruz, Mexico. The company markets its industrial, consumer and specialty products through Domino Foods, Inc., with a brand portfolio of Domino, C&H, Florida Crystals and Redpath.