| WEST PALM BEACH Florida Crystals Corp. and the Sugar Cane Growers
Cooperative of Florida have completed a $205 million buyout of Tate &
Lyle North American Sugars Inc.
The companies bought Domino from its British parent, Tate & Lyle
Plc, because they wanted its refineries in New York City; Baltimore; and
Chalmette, La., as well as the Domino name.
Under the deal, the Tate & Lyle North American division and a
Yonkers, N.Y., refinery called Refined Sugars Inc. have been combined. The
new company is called The American Sugar Refining Co. and has a marketing
arm called Domino Foods, which is now the nation's largest single marketer
of refined cane sugar, the companies said Tuesday.
American Sugar Refining and Domino Foods are headquartered in Yonkers.
Florida Crystals affiliates owns 64 percent of the new company; the
remaining 36 percent is owned by the cooperative. |