Miami sugar company Banah International Group Inc. is expanding its operations.
Banah anticipates needing more space and employees as the company continues to push into the US retail market, said Banah CEO Diego Leiva.
“The US market has a deficit of sugar at this point,” Mr. Leiva said, “and we’re bringing in new product.”
Banah is negotiating to move into a 150,000-square-foot warehouse near Miami International Airport that also would become the company’s new headquarters. Its current headquarters is on Coral Way in Miami.
Last week, Banah completed expansion of its warehouse in Doral to 32,000 square feet from 10,000.
The company moved into the Doral warehouse in August. The warehouse is in the Miami Free Trade Zone, which allows Banah to store sugar and sugar products there free of duties until they are shipped into the US retail market.
The company needed more space after winning a contract to become one of several sugar suppliers to retail giant Wal-Mart Stores Inc., Mr. Leiva said.
In addition to Wal-Mart, Banah is seeking contracts with several retail chains including CVS Caremark, Publix Super Markets Inc. and Winn-Dixie Stores Inc.
Banah, meanwhile, is seeking an agreement with Florida East Coast Railway to use the rail system to ship its sugar products to locations in the northern and western US.
Source: Miami Today
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.