KANSAS CITY — United States Sugar Corp.’s wholly owned subsidiary United States Sugar Savannah Refinery LLC (US Sugar Savannah Refinery) said it has completed the purchase of Imperial Sugar Co. from the Louis Dreyfus Co.
“By combining US Sugar’s presence in sugar cane growing, milling and cane sugar refining, with the Savannah refining, Ludlow (Ky.) logistics and Sugarland sales/customer service operations, we will increase the competitiveness and reliability of both businesses in order to deliver the best possible value and service to our customers over the long run,” said Jeana Hines, vice president of sales and marketing at US Sugar Savannah Refinery, in a letter to customers.
All former Imperial Sugar employees will continue as US Sugar Savannah Refinery employees, and all contractual obligations will be assumed, the company said. “Nothing changes today” with regard to ongoing execution of supply contracts with customers. Customer service representatives and sales contacts remain the same. Payments will be sent to the same bank account, with the name of the account changing to United States Sugar Savannah Refinery, LLC.
“We will continue to market our product under the brand names that our loyal customers have come to identify with the quality and service that we work so hard to provide every day,” Ms. Hines said.
The purchase process began last year when US Sugar Corp., based in Clewiston, Fla., and Louis Dreyfus entered into a definitive agreement on March 24, 2021. At the time, the deal, valued at between $315 million and $325 million, was expected to close in the second half of 2021. The deal hit bumps when the US Department of Justice on Nov. 23, 2021, filed a civil antitrust suit in the US District Court for the District of Delaware seeking to stop the proposed acquisition, alleging among other things that it would limit competition in the Southeast. The District Court on Sept. 23, 2022, ruled against the DOJ, saying it found the acquisition of Imperial did not violate Section 7 of the Clayton Act. The court also rejected the DOJ’s request for an injunction to stop the deal pending appeal. The appeal from the DOJ remains active.
