US branded food manufacturer Hormel Foods has completed its US$115m acquisition of Diamond Crystal Brands from US sugar processor Imperial Sugar.
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Austin, Minnesota-based Hormel said the acquisition was part of its plan to expand its branded food offerings.
Diamond Crystal Brands, which is based in Savannah, Georgia, has products including sugar and spices, as well as drink and dessert mixes that are sold to foodservice and retail customers.
Imperial Sugar is to use the proceeds from the sale to cut its debt, reported the Star Tribune.
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