Czarnikow-Rionda Company

The company was originally a subsidiary of the British sugar merchant founded by Julius Caesar Czarnikow in 1861. In 1909 it changed its name to Czarnikow-Rionda and later reduced and eventually severed ties to the British firm. The dominant figure initially was Manuel Rionda and the Rionda family remained a key influence for considerable time and this company was a key component in the Rionda empire. Business focus intially was Cuba where the company would provide finance and as a consequence acquired a number of mills when owners were unable to repay debts. The company for a time was the largest sugar broker in the US. With nationalization in Cuba the company lost all its assets there but remained active in the sugar business. In 1969 the Rionda family infleunce ended with the company sold to International Utilities and to employees in 1972. The end came in 1999 when the company was wrong-footed by declining sugar prices and was unable to meet or restructure its obligations.

The sober trust certificates were given for shares in the company. This facilitated a structure ensuring control of the company by a close-knit group. Stamped “Specimen”.