US sugar refiner Imperial Sugar Co. has set up a distribution venture with Mexican sugar group Ingenios Santos.
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The venture has been made possible due to the inclusion of sugar into the North American Free Trade Agreement from January
The business will see the companies market each other’s sugar in their respective home markets.
The venture will sell Imperial’s sugar from the US in Mexico alongside Santos’ output. It will also market Santos’ sugar in the US.
“We expect this venture will not only expand our sales efforts to Mexican customers but will enable us to better serve our US companies who have significant manufacturing interests in Mexico,” said Imperial president and CEO Robert Peiser.
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By GlobalDataAlberto Santos, Sr., of Ingenios Santos, added: “Mexico’s sugar market is in the midst of a dramatic evolution and we are excited to be on its leading edge.
“Through this venture, Mexican sugar customers will enjoy more security of supply, increased consistency and innovative packaging options not available before. Also, US customers operating in Mexico will be able to procure sugar from a supplier they have worked with for many years.”
The venture, to be named Comercializadora Santos Imperial, will be based in the Mexican city of Monterrey.
Imperial said the venture could lead to the company sourcing raw sugar from Santos for its refinery in the US state of Georgia, which has to import its raw sugar.
