Duda Inks Deal With U.S. Sugar

In an agreement signed this week, U.S. Sugar Corp. and A. Duda and Sons, Inc. formalized plans for a strategic business alliance structured around the core strengths of each company. U.S. Sugar, one of the nation’s largest fully integrated producers of sugarcane and refined cane sugar, will acquire DUDA’s sugarcane production business in Palm Beach County, which will include DUDA’s ownership interest in the Sugar Cane Growers Cooperative of Florida.

Under the agreement, family-owned DUDA, a diversified land company with agricultural and real estate operations across the country, will have access to land owned by U.S. Sugar to develop and expand its East Coast vegetable operations in Belle Glade, FL, which will include expansion of the company’s organic celery crop.

“The acquisition of DUDA’s Palm Beach County sugar cane production is in keeping with our long term strategy to be the most productive and efficient sugar business,” said U.S. Sugar President and CEO Robert H. Buker, Jr. “We believe this acquisition is a good, long-term investment for our company and for our shareholders. U.S. Sugar intends to fulfill all the cane obligations to area mills and all the other obligations of DUDA’s Belle Glade sugar cane operations just as DUDA did, and we plan to bring all the employees currently working in DUDA’s Belle Glade sugarcane operation into our employee group.” 

David Duda, President and CEO of DUDA, said, “This transaction allows DUDA to grow its East Coast vegetable operations and take advantage of opportunities in other areas of our business, including the expansion of our diversified agricultural operations and real estate holdings across the country.” DUDA will continue sugar cane production in Glades County, FL, as well as in South Texas.

The terms of the agreement were not disclosed.

The two companies have enjoyed a 40-year history of cooperative business activities, including sugarcane harvest and milling agreements, joint land use and lease agreements and making cooperative fixed land improvements. “U.S. Sugar is a quality grower and producer and is a strong business partner,” said Duda. “This is a win-win deal for both companies, allowing each of us to grow, prosper and concentrate on our competitive strengths over the long term.”

Source: Duda, U.S. Sugar Corp.