Sector News

France’s Tereos to buy British sugar distributor Napier Brown

April 29, 2015
Food & Drink
(Reuters) – French sugar maker Tereos has agreed to buy sugar distributor Napier Brown Sugar from Britain’s Real Good Food for 34 million pounds ($52.27 million), in a bid to put itself in a better position for the deregulation of the European market.
 
The protected EU sugar market will see a dismantling of production quotas in October 2017, which will enable beet sugar producers like Tereos to compete freely on world markets, potentially exporting refined sugar around the world.
 
“The changes taking place within the European sugar market mean that the future of this business is best served by it becoming part of an international production group,” said Pieter Totté, executive chairman of Real Good Food.
 
Tereos, the world’s fifth largest sugar maker, said the deal would also strengthen its position in the UK, a major market for French producers, by broadening its product range and improving its distribution network.
 
Founded 90 years ago, Napier Brown is Europe’s largest independent sugar distributor and distributes around 300,000 tonnes of sugar per year.
 
Tereos said the deal, subject to Real Good Food shareholders’ approval, was expected to complete by the end of May 2015.
 
($1 = 0.6505 pounds)
 
By David Brough and Sybille de La Hamaide (Editing by Louise Heavens)
 

comments closed

Related News

July 3, 2022

Heineken to take control of Long Chuan Zuan Co brewery

Food & Drink

Heineken has entered into an agreement with Sanyo Whisbih Group to take over majority ownership of the Long Chuan Zuan Co brewery in Taiwan. With this investment in local production, Heineken says it will become the first international brewer to have a brewery in the country.

July 3, 2022

Mondelēz to reopen damaged potato chip plant in Ukraine

Food & Drink

Mondelēz International plans to reopen a potato chip plant, located on the outskirts of Kyiv, that was damaged in the ongoing Russia-Ukraine conflict, according to Reuters. The facility, which was closed in March after suffering serious damage, will resume production while still undergoing repairs, a company spokesperson told Reuters.

July 3, 2022

Diageo to wind down operations in Russia

Food & Drink

Diageo has announced it will wind down its Russian business operations over the next six months, with plans to fully withdraw by the end of the year, according to Reuters. In March, the drinks giant suspended all exports of its products to Russia as well as the manufacturing of its beers, which are brewed locally under license by third parties.