July 1/Yonkers, N.Y./PRNewswire -- American Sugar Refining (ASR) signed an agreement to acquire Tate & Lyle PLC's European cane sugar operations.
Tate & Lyle is the leading cane sugar producer in the European Union. The acquisition of its refineries in London, England, and Lisbon, Portugal, increases ASR's total refining capacity to six million metric tons per year. The 211 million pounds Sterling ($318 million) acquisition includes a license for use of the distinguished Tate & Lyle brand in connection with the sale of sugar.