Sucro signs raw sugar supply agreement with HMC Farms

Executive Summary

• Sucro Ltd. has entered into a strategic raw sugar supply agreement with HMC Farms LLC, a major Louisiana cane grower, to support its new University Park, Illinois refinery.
• The agreement secures domestic supply for Sucro’s new 350,000 metric tonne annual capacity refinery, aiming to strengthen U.S. sugar supply chain resilience and provide a reliable market for Louisiana growers.
• As part of the strategy, Sucro has purchased its first cane farm in Louisiana (operated by HMC Farms) to support acreage growth, while simultaneously closing its older, less efficient Hamilton, Ontario refinery in April 2026.

Key Details

• Supply Agreement: Signed with HMC Farms LLC (owned by Hugh, Chris, and Mike Andre), one of Louisiana's largest cane growers.
• Refinery Capacity: The University Park, Illinois refinery is expected to reach approximately 350,000 metric tonnes of annual production once fully operational.
• Product Output: The facility operates as a granular refinery producing U.S. standard granulated (ECJ) sugar, specialty granulation sizes, and specialty sugars (brown, yellow, and powdered).
• Strategic Shift: Sucro will prioritize and pay a premium for domestically produced sugar.
• Import Reduction: Imports of molasses products are expected to be significantly reduced or eliminated, limited to specialized applications not exceeding 2,000 metric tonnes per month (24,000 metric tonnes per year).
• Asset Closure: The closing of Sucro’s older, less efficient sugar refinery in Hamilton, Ontario, is expected to occur in April 2026.
• Land Acquisition: Sucro has purchased its first cane farm in Louisiana, which will be managed and operated by HMC Farms to support the expansion of Louisiana cane acreage.
• Operational Efficiency: The strategy leverages Sucro’s modern Hamilton, Ontario refinery for maximum sugar recovery and efficient utilization of domestic raw sugar supplies.

Notable Quotes

• Hugh Andre, Owner of HMC Farms LLC: "Sucro's investment in the University Park refinery will create meaningful new demand for raw sugar. With the refinery expected to reach approximately 350,000 metric tonnes of annual capacity, it will be an important and reliable outlet for our crop, and will help support continued growth in Louisiana's cane acreage for years to come."
• Jonathan Taylor, Founder and CEO of Sucro: "Sucro's strategy is centered on building strong partnerships with domestic growers and investing in efficient refining infrastructure in the United States... The University Park refinery strengthens domestic refining capacity while providing our customers with high-quality refined sugar products, produced through modern and efficient processes, and readily available to their nearby food manufacturing plants throughout the Midwest."