The DOJ has filed a complaint to stop a sale of Louis Dreyfus sugar

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The Justice Department says it doesn’t matter whether you’re related to Elaine Benes or not, you can’t make anti-competitive deals. Antitrust agents filed a complaint to block the sale of Imperial Sugar by Louis Dreyfus Co. to US Sugar on Tuesday.

According to the DOJ, if the acquisition of about $ 315 million were to be successful, 75% of sugar sales in the Southeastern United States would remain in the hands of just two companies, a reduction in competition that it says. it would increase costs for consumers.

  • US Sugar responded by saying the sale would increase sugar supply and production and solve supply chain problems.

MJ antitrust: This is the fourth major challenge for the DOJ in recent months, fulfilling the Biden administration’s commitment to fight industry consolidation. Recent highlights include:

  • Successfully prevent a $ 30 billion insurance merger in July
  • Lawsuit against American Airlines and JetBlue’s growing alliance
  • Lawsuit to stop the merger of publishers Penguin Random House and Simon & Schuster

Fun fact: Seinfeld and Veep‘s Julia Louis-Dreyfus is the great-great-granddaughter of Léopold Louis-Dreyfus, who founded the Louis Dreyfus Group in 1851.—MK

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