Imperial Sugar Company, the owners of Spreckels, Holly and Michigan beet processing facilities, has offered their Tracy and Woodland factories to growers. According to company officials, Tracy and Woodland have the greatest land value of their 11 beet plants, and they have offered these factories to the growers on a "land value" basis.
These factories are located in the growth corridors of the San Francisco Bay Area. Woodland is situated on approximately 780 acres of agricultural land with a portion that could possibly be rezoned for commercial purposes. The Tracy plant sits on just over 1400 acres of agricultural land, in a flood plain, that is adjacent to commercial and residential real estate adjoining the rapidly growing community of Tracy. The company is currently having both the properties appraised to determine a market value for this real estate.
In their proposal to growers, the company indicated that, in time, they might be interested in selling all four California factories. The company has also stated they would require growers to retain Imperial Sugar as the marketing agent for sugars produced at Woodland and Tracy. The arrangement to reimburse Imperial for this service would be based on the value of sugar sold and would be for sales, logistics, credit, customer service, billing and other functions of a sales department.
During the C.B.G.A. Annual Membership Meeting on February 17, the members in attendance voted unanimously to fully investigate the purchase of the two factories with the final objective of owning and operating all four factories in California.
The Association's Board of Directors appointed a committee to investigate the possible purchase.