News International Sugar Journal

Cristal Union to expand its sugar operations with an acquisition [Registered]

The French sugar cooperative Cristal Union is to acquire Societe Vermandoise in a deal worth nearly 1 billion euros ($1.3 billion) according to Reuters. This would make Cristal Union the second largest sugar producer in France after Tereos and the fifth largest in EU. The purchase is seen as a strategic move in anticipation of the liberalisation of the European sugar market soon after the production quotas and minimum prices are dispensed with in 2015. The purchase deal involves 51% stake owned by the Delloye family in Vermandoise, which has a market capitalisation of 262 million euros. This will also…

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