U.S. Sugar has been able to move forward following the rejection of a push by the U.S. Department of Justice to block its acquisition of Imperial Sugar. The newest ruling from the third U.S. Circuit Court of Appeals closed the chapter on the federal antitrust concerns, allowing the acquisition of the Savannah-based company to be finalized.
The DOJ had raised antitrust issues citing the federal Clayton Act, however, a Sept. 23 ruling from U.S. District Court Judge Maryellen Noreika and the latest appeal court decision has allowed the sale to go forward. U.S. Sugar first announced a plan to purchase the company from Louis Dreyfus Co. in March 2021 and announced they were moving forward to finalize that sale following the lower court’s ruling.
U.S. Sugar’s statement reads: “The people of U.S. Sugar are pleased that the U.S. Court of Appeals for the Third Circuit has upheld the lower court’s decision which allowed U.S. Sugar to complete our acquisition of Imperial Sugar’s Savannah Refinery. We continue to focus our efforts on the integration of our sugar businesses.”
Citing the upcoming sale, U.S Sugar said in their statement “Bringing the Savannah Refinery, its sugar brands, and facilities back into American ownership is good for our employees, our local communities, our customers and our country. We look forward to bringing more high-quality, great tasting, and affordable sugar and other sustainably grown food products to American families.”
The acquisition will critically expand the product line and production capacity of U.S. Sugar, allowing them to further benefit from increased American ownership of the market. The estimated 300 Imperial Sugar Co. employees will be kept on staff, joining the estimated 400 employees at U.S. Sugar’s own locations, allowing for more employment opportunities to be made available to those in the Savannah-area.
U.S. Sugar’s CEO said: “We are thrilled to have the opportunity to bring the Savannah Refinery and its brands, facility, and employees into the U.S. Sugar family. We look forward to working together to bring high-quality, great tasting, and affordable sugar and other sustainably-grown food products to American consumers.”
“We’re excited to complete this acquisition and are confident it will benefit many communities in the U.S.,” He said.
With the resolution of the antitrust concerns, U.S. Sugar is now free to complete their acquisition and move forward to the benefit of all involved.