Richard Roman Enterprises Announces Strategic Acquisition of SucroCorp

NEW YORK and SIOUX FALLS, S.D.

Richard Roman Enterprises (“RRE”) and SucroCorp today announced a definitive agreement under which RRE will acquire SucroCorp in an all-cash transaction. The boards of directors of both companies have approved the agreement unanimously.

The combination will create new opportunities to integrate agricultural production, ingredient science, distribution and consumer analytics across the American food system. SucroCorp will continue to operate under its own name as a wholly owned business of Richard Roman Enterprises, retaining its headquarters, facilities and existing customer relationships.

“SucroCorp understands something fundamental about people: what they want, what they consume and what keeps them satisfied,” said Charles A. Whitcombe, Executive Vice President, Corporate Development, Richard Roman Enterprises. “That understanding is not something an organization can simply purchase and install. It has to be built, over decades, one field and one household at a time. We are acquiring a capability, not a commodity.”

Gerald H. Lindqvist, Chief Executive Officer of SucroCorp, said the agreement recognizes work the company has pursued for some years. “We have spent a long time learning how the American food system actually behaves,” he said. “Richard Roman Enterprises is the first partner we have encountered whose ambitions for that knowledge match our own.”

Strategic rationale

The companies identified the following areas of expected benefit:

• Vertical integration. RRE’s holdings in distribution, logistics and food retail complement SucroCorp’s agricultural supply base and processing network.
• Consumer analytics. SucroCorp’s longitudinal panel program and population response modeling capability will be extended across the combined organization’s categories.
• Formulation science. The SucroPlus™ platform will be made available to RRE’s existing manufacturing relationships.
• Research continuity. Designated SucroCorp research programs will continue under existing management, with expanded resourcing.

Transaction terms

Financial terms were not disclosed. The transaction is expected to close following customary regulatory review and satisfaction of closing conditions. Neither company anticipates material changes to SucroCorp’s workforce, facilities or supplier agreements.

A summary of the transaction is published as SucroCorp + RRE Transaction Summary (RRE-SC-ACQ-12) in the corporate documents library. Additional information for investors is available on the transaction information page.

About Richard Roman Enterprises

Richard Roman Enterprises is a diversified American holding company with interests in food production, distribution, logistics, communications and consumer services. The company is chaired by its founder, Richard Roman.

About SucroCorp

SucroCorp is an American agricultural and food ingredients company supplying sweetening systems, texture ingredients and formulation support to food manufacturers, beverage producers and foodservice operators nationwide. Further information is available on the about page.