NewsWhore
02-19-2007, 04:30 PM
The Fanjul Group, owners of Casa de Campo and the La Romana Free Zone as well as the La Romana sugar mill, have acquired Tate and Lyle Canada Ltd., Canada's largest sugar refiner. According to El Caribe, the deal went like this: American Sugar Refining, Inc. (widely known as Domino) has agreed to acquire Tate and Lyle Canada Ltd. (Red Path) for CDN$300 million (US$258 million). Redpath operates Canada's largest cane sugar refinery in Toronto. The majority stockholder in American Sugar Refining (ASF) is Florida Crystal Corporation a subsidiary of Flo-Sun, Inc. that belongs to the corporate group owned by the Fanjul family. Both Flo-Sun and Florida Crystals are run by Alfonso Fanjul, who is chairman and managing director and Jose Pepe Fanjul, the CEO. As well as the operations in La Romana, the Fanjul Group owns and operates four sugar refineries in the United States. Domino Foods is the marketing entity for brands such as Jack Frost, Florida Crystal and C&H, and the new acquisition will oblige an increase in ASF's refining capacity.
Completion of the transaction is subject to customary closing conditions, including Canadian regulatory approvals.
More... (http://www.dr1.com/index.html#13)
Completion of the transaction is subject to customary closing conditions, including Canadian regulatory approvals.
More... (http://www.dr1.com/index.html#13)