USA: Imperial Sugar Company completes sale of nutritional products business to Hormel
Imperial Sugar Company (OTC BB: IPRL) yesterday announced completion of the sale of its Diamond Crystal Brands nutritional products business to Hormel Foods Corporation (NYSE: HRL ; "Hormel") for approximately $65 million in cash, subject to certain post-closing adjustments. The transaction was approved by the U.S. Bankruptcy Court for the District of Delaware as Imperial Sugar Company filed a petition for relief under chapter 11 of the U.S. Bankruptcy Code on January 16, 2001. The Company expects to apply approximately $51 million of the net after-tax proceeds to permanently reduce debt.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Burger King, Jollibee: foodservice focus, Nov 2016
- Have food promotions reached tipping point?
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund