U.S. Sugar to sell farmland, plant to Florida in Everglades' redo
August 7, 2008
It’s expected to take six years, but when completed, U.S. Sugar Corp. will have sold 187,000 acres (about 300 square miles) of cane fields to Florida as part of a complicated land swap to restore the Everglades to its original state. The $1.7-billion deal will allow the company to wind down operations during a six-year transition period. U.S. Sugar, a 1,700-employee, privately held company, says it produces 10% of the nation’s sugar.