Imperial Sugar Company Increases Stake in Wholesome Sweeteners

"Sugar Land-based Imperial Sugar Company announced today that has increased its ownership stake in Wholesome Sweeteners, also acquiring an option to purchase the remaining equity interest in the company.

Wholesome Sweeteners, an organic and natural sweetener company also based in Sugar Land, was formed as a joint venture in 2001 between Imperial and Edward Billington & Son, a UK-based agriculture and food company.

Under terms of the agreement, Imperial paid $4 million in cash to purchase five percent of Wholesome’s common stock from Billington, increasing Imperial’s ownership position from 45 to 50 percent. The deal also includes an option to acquire the remaining 50 percent interest still held by Billington.

The option can be exercised between Sept. 1, 2010, and May 31, 2011, at an agreed multiple of future earnings."

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