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Imperial Sugar Company and PureCircle Form Joint Venture to Develop Natural Sweetening Solutions for the Beverage and Food Sectors
SUGAR LAND, Texas, Feb 22, 2010 (BUSINESS WIRE) -- Imperial Sugar Company (NASDAQ:IPSU) and PureCircle Limited (LSE-AIM:Pure) announced today the launch of Natural Sweet Ventures LLC ("Natural Sweet"), a joint venture created between one of the largest producers and marketers of refined sugar in North America and the global leader in the production of high purity stevia products.

The exclusive North American joint venture integrates the proven technologies of two industry leaders to develop a specialty product line combining the natural benefits of both sugar and stevia. Product development will focus on delivering desired sweetness levels with reduced calories with all natural ingredients. Natural Sweet Ventures will work collaboratively with customers in the beverage and food sectors to develop products that address emerging consumer dietary and health interests.

"We are delighted to partner with stevia product leader PureCircle to provide an attractive alternative for customers seeking great tasting, naturally sweet solutions," said John C. Sheptor, president and CEO of Imperial Sugar. "Natural Sweet Ventures will provide customers a sugar option with additional benefits. The creation of Natural Sweet is consistent with our strategy to expand into value-added natural offerings for customers and enhance shareholder value over time."

This combination of industry leading companies ensures that Natural Sweet Ventures' product line will meet the highest quality standards. Key product attributes will include:

  • 100% natural
  • same sugar sweetness with fewer calories and less sugar
  • lower glycemic index
  • no GMO (genetically modified organism)
  • temperature and pH stable
  • ease of use in a broad array of food and beverage applications

"When we were looking for a partner for the important North America market, there was really only one choice," commented Magomet Malsagov, president and CEO of PureCircle Limited. "Imperial stood out from the crowd for its commitment to innovation, naturally sweet products and outstanding customer service. The combination of our intellectual property and valued assets will help to serve the growing demand of the North American market."

About Imperial

Imperial Sugar Company is one of the largest refiners, processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial(R), Dixie Crystals(R) and Holly(R) brands. For more information about Imperial Sugar, visit www.imperialsugar.com and www.iscnewsroom.com.

About PureCircle

PureCircle is the global leader in the production and delivery of high purity stevia products. Stevia is now being grown for PureCircle in fifteen countries across South America, Africa, and Asia, providing a sustainable cash crop for rural farming communities in each region. PureCircle's USA headquarters are in Oakbrook, Chicago, Illinois and the Group's global headquarters are in Kuala Lumpur, Malaysia. For more information about PureCircle, please visit www.purecircle.com

About Stevia

Stevia is a plant from the chrysanthanum family that originates from Paraguay in South America. It has been used as a natural sweetener and flavor enhancer for many centuries. In 2008 high purity (over 95%) Rebaudioside A, a single molecule from the stevia plant, was granted FDA GRAS (generally regarded as safe) status for use as a sweetener ingredient in beverage and food products. On a weight basis high purity Rebaudioside A is up to 300 times sweeter than sugar, has no calories, has a low glycemic index and is heat and pH stable.

SOURCE: Imperial Sugar Company

Imperial Sugar Company
H. P. Mechler, 281-490-9652
Senior VP & CFO