February 23, 2016
Sugaronline | http://goo.gl/ZCEHDU
Michigan Sugar Co. has acquired the assets of Taylor-based AmCane Sugar LLC as part of an effort to broaden its product offerings and meet demand for specialty products and organic sugars, according to Michigan's Bay City News.
Michigan Sugar announced the deal Monday. The Bay City-based company is a cooperative owned by sugar beet growers that make Pioneer and Big Chief brand sugars.
AmCane Sugar is a sugar refiner and specialty sugar manufacturer. It has a sugar packaging and blending operation in Toledo, Ohio. Its products include liquid sucrose, VLC liquid sugar, evaporated cane juice, large/coarse grain sugar and boiled brown sugar.
Terms of the deal were not released.
Michigan Sugar said AmCane's facilities wlll increase Michigan Sugar's revenues by more than US$60 million and increase its sugar sales volumes by nearly 15%. AmCane has 100 employees at its two facilities.
Earlier this year, Michigan Sugar announced plans to invest US$125 million in four of its facilities. The money is being used for capital projects in plants in Bay City, Caro, Sebewaing and Croswell. About US$20 million will go toward its agricultural department. Another US$57 million will go over the next five years into the Croswell facility in Michigan's Thumb Area. The investment will complete operation upgrades at the plant.
"This will allow us to produce more beets there and use all of our plants at full capacity," Michigan Sugar community and government relations director Ray Van Driessche said earlier this year.