Tate & Lyle to be Re-Positioned as Growth-Focused Global Speciality Food & Beverage Solutions Business
Move will create to standalone businesses
Tate & Lyle entered into an agreement to sell a controlling stake in a new company and its subsidiaries (“NewCo”), comprising its Primary Products business in North America and Latin America and its interests in the Almidones Mexicanos S.A de C.V (“Almex”) and DuPont Tate & Lyle Bio-Products Company, LLC (“Bio-PDO”) joint ventures, to KPS Capital Partners, LP (“KPS”) (the “Proposed Transaction”). Tate & Lyle and KPS will each own 50% of NewCo with KPS having Board and operational control.
TRANSACTION HIGHLIGHTS
Creates two standalone businesses – Tate & Lyle and NewCo – each positioned to focus on their respective strategies and capital allocation priorities: