News
Imperial Sugar Company Signs Sales Agency Agreement with Leading Rice Processor
SUGAR LAND, Texas-(Business Wire)-May 20, 2008 - Imperial Sugar Company (NASDAQ:IPSU) today announced it has entered into a sales agency agreement with Gulf Rice Arkansas LLC, a domestic rice processing and marketing firm.
Imperial will leverage its extensive customer relationships to initiate new sales opportunities for Gulf Rice Arkansas in the foodservice sector. Under terms of the agreement, Imperial will receive a portion of the net revenue Gulf Rice Arkansas receives stemming from the collaborative sales effort.
"The complementary nature of the rice and sugar sales channels makes this a natural fit for our foodservice customers, diversifies Imperial's product portfolio and affords both companies strategic and financial benefits," said John Sheptor, president and CEO of Imperial Sugar. "Coupled with our recent brokerage contract with Maximus Coffee Group, this newest agreement reinforces our commitment to fully leverage our core competency in the foodservice business and broaden Imperial's portfolio of products."
Headquartered in Houston with a rice processing facility in Arkansas, Gulf Rice Arkansas is principally known for its Ansera(TM) retail brand. In addition to developing private label rice programs, the company presently conducts business in the retail market space and is intent on growing market share in key foodservice channels.
"Imperial is a well recognized brand, with a loyal customer base and solid reputation," said John Poole, president and CEO of Gulf Rice Arkansas. "We look forward to working with Imperial's staff to expand our reach nationally."
About Imperial Sugar
Imperial Sugar Company is one of the largest 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.
Statements regarding future market prices and margins, future energy costs, future operating results, operating efficiencies, future government and legislative action, future cost savings, future benefit costs, future joint ventures, our liquidity and ability to finance our operations, and other statements that are not historical facts contained in this release are forward-looking statements that involve certain risks, uncertainties and assumptions. These include, but are not limited to, market factors, energy costs, the effect of weather and economic conditions, farm and trade policy, our ability to realize planned cost savings, the available supply of sugar, actual or threatened acts of terrorism or armed hostilities, legislative, administrative and judicial actions and other factors detailed in the Company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Search Our News Using Google Search
Can't find what you want? Try using Google:
