Louis Dreyfus Commodities Buying Imperial Sugar | NBC 5 Dallas-Fort Worth

Louis Dreyfus Commodities Buying Imperial Sugar

Deal to close in second quarter



    The Imperial Sugar plant in Sugarland, Texas.

    Louis Dreyfus Commodities LLC is buying refined sugar processor Imperial Sugar Co. for about $77.5 million.

    Houston area-based Imperial Sugar's board unanimously approved the acquisition, which is targeted to close in the second quarter.

    Louis Dreyfus will pay $6.35 per share, which is a 57 percent premium to Imperial Sugar's closing price of $4.05 per share on Monday. Imperial Sugar currently has approximately 12.2 million outstanding shares.

    The companies said Tuesday that the total value of the deal is about $203 million, which includes debt and pension liabilities.

    Last month Imperial Sugar, which is based in Sugar Land, said it netted $60.4 million from the sale of its 50 percent stake in Wholesome Sweeteners Inc. to an affiliate of the Arlon Group.