Australian investment bank Macquarie Group has acquired agribusiness giant Wilmar International's 42.5% stake in UK-based sugar tradehouse Czarnikow.

Macquarie will become the minority shareholder in which Associated British Foods is the majority investor through its British Sugar arm. Financial details of the deal were not disclosed.

"The sugar market has robust fundamentals with excellent long-term growth prospects," said Czarnikow CEO Robin Cave. "We are confident that the new shareholding structure will support the future growth of Czarnikow, for the benefit of our clients and employees."

Czarnikow added the new shareholding structure would have "no impact" on its day-to-day operations.

Sebastian Barrack, head of Macquarie's metals and agricultural sales and trading division, said: "We are a global leader in trading and price risk management of sugar and have a deep understanding of the dynamics of the market. We look forward to working alongside the board and management to share our complementary skills and strengthen Czarnikow's leading role in the global sugar markets."

The transaction is expected to be completed early in the third quarter.