Imperial Sugar has sold its stake in the Louisiana Sugar Refining venture to Cargill and Sugar Growers and Refiners.
As a result, US agribusiness giant Cargill and farming co-op Sugar Growers and Refiners (SUGAR) now have a 50% interest in the venture. Imperial Sugar previously owned a third of the venture.
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In May, Imperial Sugar reported a second-quarter profit thanks largely to the contribution of a refinery in Louisiana run by a venture between the US sugar processor, Cargill and SUGAR.
LSR general manager and CEO Red Geurts said: “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 US.”
