Sucro Announces Strategic U.S. Domestic Raw Sugar Supply Agreement with HMC Farms to Support New U.S. Refining Capacity

Executive Summary

• Sucro Limited announced a strategic raw sugar supply agreement with HMC Farms LLC to feed its new University Park, Illinois refinery.
• The University Park facility is projected to reach ~350,000 metric tons of annual production, adding significant domestic refining capacity in the U.S. Midwest.
• As part of the agreement, Sucro will prioritize and pay a premium for domestically produced sugar, reduce molasses imports to ≤2,000 MT/month, and has acquired its first Louisiana cane farm to support future acreage growth.

Key Details

• Supply Agreement: Raw sugar from HMC Farms LLC (Louisiana’s largest cane grower) will be supplied to the University Park refinery under a long‑term partnership.
• Refinery Capacity: Once fully operational, the University Park plant is expected to produce approximately 350,000 metric tons per year of refined granular and specialty sugars.
• Domestic Sourcing Commitment: Sucro will “prioritize and pay a premium” for U.S.–grown raw sugar whenever possible.
• Molasses Import Reduction: Expected molasses imports limited to ≤2,000 MT per month (≈24,000 MT per year), primarily for specialized applications.
• Hamilton Ontario Facility Closure: The older Hamilton refinery is slated for shutdown in April 2026 as the new U.S. facility comes online.
• Land Acquisition: Sucro has purchased its first cane farm in Louisiana, to be managed by HMC Farms, with potential for additional acquisitions to expand domestic acreage.
• Strategic Rationale: The agreement secures a reliable outlet for Louisiana cane growers, enhances supply chain resilience, and supports growth of U.S. refining capacity amid limited existing capacity.

Notable Quotes

• Hugh Andre, Owner, HMC Farms LLC: “Sucro’s investment in the University Park refinery will create meaningful new demand for raw sugar… an important and reliable outlet for our crop.”
• Jonathan Taylor, Founder & CEO, Sucro: “Our strategy is centered on building strong partnerships with domestic growers and investing in efficient refining infrastructure in the United States.”