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Brits Get Yanked, Sell Sugar Refinery Biz to Americans

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Smile & Yank This

London–-Just in time for Independence Day, American Sugar Refining pulled the trigger on the takeover of U.K.-based sugar producer Tate & Lyle, ending nearly 500 years years of British sugar refining, but with no certainty that it will improve the woeful condition of British teeth.

The Yonkers, NY-based American Sugar, owned by Florida Crystals Corp., plunked down $314 million for cane sugar refineries in London and Lisbon, the Lyle’s Golden Syrup factory in London, the associated sugar and syrup brands, and the Tate & Lyle Process Technology consulting business.

“The acquisition of Tate & Lyle’s European sugar operations is consistent with our strategic vision for expansion in the sugar refining sector,” said Luis Fernandez, co-president of American Sugar Refining.

It’s hardly a surprise. In the last decade, as the EU has suspended price supports for sugar, the Brits have abandoned sugar refining in favor of its real sweet spot—sucralose (Splenda), which it discovered in 1976 and will continue to manufacture and market worldwide, alongside equally profitable corn and starch and specialty food ingredients.

And while refined sugar has been losing market share for 30 years to artificial sweeteners, U.S. Government price controls and import quotas has provided American Sugar Refining with enough incentive to stay in the business of sugar refining.

Originally based on Wall Street with a refinery in Brooklyn, ASR markets its products under the Domino, C&H and Redpath brands. It owns and operates six cane sugar refineries in Yonkers, Baltimore, Toronto, Crockett, California, and Veracruz, Mexico.


Written by Brian O'Connor

July 7, 2010 at 2:51 am

Posted in pogues, sugar

Tagged with ,

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