Wilton (CT), US,March 24, 2021 – Louis Dreyfus Company LLC (LDC) announced today that it has entered into a definitive agreement to sell the business and assets of Imperial Sugar Company (Imperial Sugar) to U.S. Sugar, a privately held agri-business based in Clewiston, Florida, US.
“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 acquired Imperial Sugar in 2012, and currently operates a cane sugar refinery at Port Wentworth in Savannah, Georgia, US, and a sugar transfer and liquification facility in Ludlow, Kentucky, US. Imperial Sugar primarily sources raw cane sugar from Central and South America, and from the Caribbean. The transaction also includes Imperial Sugar’s consumer-facing sugar brands, sold mainly across the southern US.
“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.
LDC is one of the world’s top five sugar merchandizers, sourcing, transporting and marketing raw and white sugars to key consumer markets globally. In North America, the company will continue to operate across seven business lines, and is a top exporter of cotton, soybeans, wheat and corn from the US.
“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 in 2021, subject to regulatory approvals and customary closing conditions.
About Louis Dreyfus Company
Louis Dreyfus Company is a leading merchant and processor of agricultural goods. We leverage our global reach and extensive asset network to serve our customers and consumers around the world, delivering the right products to the right location, at the right time – safely, responsibly and reliably. Our activities span the entire value chain from farm to fork, across a broad range of business lines (platforms). Since 1851 our portfolio has grown to include Grains & Oilseeds, Coffee, Cotton, Juice, Rice, Sugar, Freight and Global Markets. We help feed and clothe some 500 million people every year by originating, processing and transporting approximately 80 million tons of products. Structured as a matrix organization of six geographical regions and eight platforms, Louis Dreyfus Company is active in over 100 countries and employs approximately 17 000 people globally. For more information, visit www.ldc.com and follow us on Twitter, LinkedIn and WeChat (ID: we_are_ldc).
For further information, please contact [email protected]