ASR Group, a cane sugar refining and marketing company, has purchased 50% stake in Italian sugar refinery SFIR Raffineria di Brindisi from ED&F Man, a specialist merchant of agricultural commodities, for an undisclosed amount.
Built in 2010, the cane sugar refinery produces 450,000 tons of sugar per year. SFIR (Societa Fondiaria Industriale Romagnola) holds the remaining share of the refinery.
In a separate deal, ASR also bought 50% stake in sales company Euro SFIR Italia from SFIR Group.
ASR is the owner of Tate & Lyle Sugars and Sidul which markets its products under the Tate & Lyle and Lyle's consumer brands in the UK and the Sidul and Sores brands in Portugal.
ASR co-president Luis Fernandez said, "Our investment in the Brindisi refinery and its sales and marketing company is a further sign of our commitment to our European customers.
"It will complement our existing operations in the UK and Portugal with a strong presence in the Italian market."
The company owns and operates, through Tate & Lyle Sugars, a million-ton cane sugar refinery in London, England and a refinery in Lisbon, Portugal.
Tate & Lyle Sugars president Ian Bacon said, "This acquisition further demonstrates our commitment to cane sugar refining, a model that brings competition and choice to Europe's sugar sector."
