Cargill and Sugar Growers and Refiners, Inc. to acquire all of Imperial Sugar's interest

GRAMERCY, La., Dec. 16, 2011 /PRNewswire/ -- Louisiana Sugar Refining, LLC (LSR), announced today that Cargill and Sugar Growers and Refiners, Inc. (SUGAR) have acquired all of Imperial Sugar's interest in LSR. Cargill and SUGAR now each have a 50 percent interest in the million-ton-per-year sugar refinery.

"The new partnership marries Cargill's 140 years of food industry expertise with the Louisiana sugar farmers' 200 years of collective wisdom in growing and milling sugar cane," said Red Geurts, LSR general manager and CEO. "As we are in the process of starting up the newest sugar refinery in the industry, it's very exciting to know we have two very strong partners with a shared vision of making the Louisiana cane sugar industry a strong and vibrant supplier of sugar to the food industry and consumers in the U.S."

Sugar Growers and Refiners, Inc. is a Louisiana cooperative representing eight sugar cane mills and more than 780 members of the Louisiana sugar industry. Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services.

LSR was previously owned in equal 1/3 shares by Cargill, Imperial Sugar Company and Sugar Growers and Refiners, Inc. (SUGAR.)

SOURCE Louisiana Sugar Refining, LLC