USA: Imperial Sugar Company to sell nutritional products business to hormel
Imperial Sugar Company yesterday announced that it has reached a definitive agreement to sell its Diamond Crystal Brands nutritional products business to Hormel Foods Corporation (NYSE: HRL; "Hormel") for $65 million in cash, subject to certain post-closing adjustments. The transaction is subject to approval 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. Certain regulatory approvals have already been received, including necessary clearances under the Hart-Scott-Rodino Act. The transaction is expected to close during the second calendar quarter of 2001.
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
- Have food promotions reached tipping point?
- Quorn CEO sets out stall for 2017 - interview
- How Tyson's new CEO plans to grow the meat group
- Mondelez goes beyond certified cocoa - analysis
- Nestle unveils process to cut sugar by 40%
- Putin 'wants embargo to run as long as possible'
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- McCormick to buy flavours business Enrico Giotti