From the Vault: Domino Sugar
The Baltimore sugar plant opened in 1922, and was owned at the time by the American Sugar Refining Co., or Amstar. In 1984, Amstar Corp. was sold for $428 million to investment banking firm Kohlberg, Kravis, Roberts and Co., which sold it two years later to Merrill Lynch Capital Partners Inc. Tate & Lyle bought the company in 1988.
Then, two politically connected brothers who fled the Castro regime and later built a sugar empire in Florida agreed in 2001 to purchase the Domino Sugar company for $180 million.
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