Wilmar expanded into the sugar business in 2010 through the acquisition of Sucrogen Limited (known today as Wilmar Sugar) in Australia – one of the world’s largest sugar companies, and PT Jawamanis Rafinasi – a leading sugar refiner in Indonesia. In 2011, Wilmar went on to acquire PT Duta Sugar International, one of eight licenced sugar refineries in Indonesia. In the same year, through Sucrogen, we added Proserpine Mill, fifth largest sugar mill in Australia to its sugar business.
In 2013, Wilmar became the strategic industrial partner of Cosumar S.A. through the acquisition of a 27.5% stake in the company. Based in Casablanca, Consumar is the sole sugar producing company in Morocco and the third largest sugar producer and the second largest refiner in the African continent.
In 2014, the Group entered into an agreement to acquire a strategic stake in Mumbai-based Shree Renuka Sugars Limited. This investment, subject to relevant regulatory approvals, will allow the Group to establish a significant presence in India and Brazil, the two most important sugar markets.
Also in 2014, the Group established a joint venture in Myanmar with Great Wall Food Stuff Industry Company Limited to produce and sell sugar and its by-products. Wilmar will hold a total effective interest of 55% in the joint venture.