Last checked at 9 Jun 2022 07:06
FOR IMMEDIATE RELEASE
Tate & Lyle completes acquisition of dietary fibre business in China
London, UK, 9 June 2022 - Tate & Lyle PLC (Tate & Lyle), a leading global provider of food and beverage ingredients and solutions, announces that it has today completed the acquisition of Quantum Hi-Tech (Guangdong) Biological Co., Ltd (Quantum), a leading prebiotic dietary fibre business located in China. The signing of a conditional agreement for this acquisition was announced on 31 March 2022.
Nick Hampton, Chief Executive of Tate & Lyle, said:
"This acquisition significantly strengthens our fortification platform and our position as a leading global player in dietary fibres, while extending our presence in China and Asia. FOS and GOS fibres are highly complementary to our existing fibre portfolio and will allow us to offer a broader range of solutions to our customers across key markets.
We are delighted to welcome our new colleagues from Quantum to Tate & Lyle. Quantum is a great fit with our growth strategy and our purpose of Transforming Lives through the Science of Food, giving us more opportunities to improve gut health and provide fibre fortification for consumers across the world."
ENDS
Notes to editors
1. FOS are fructo-oligosaccharides and GOS are galacto-oligosaccharides,
2. Read the initial announcement press release: Tate & Lyle to acquire leading dietary fibre business in China - 31 March 2022
For more information contact Tate & Lyle PLC
Investor Relations:
Christopher Marsh, VP, Investor Relations
Mobile: +44 (0) 7796 192 688
Media:
Nick Hasell, FTI Consulting Mobile: +44 (0) 7825 523 383
About Tate & Lyle
Tate & Lyle is a leading global provider of food and beverage ingredients and solutions. Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day.
Through our expertise in sweetening, mouthfeel and fortification, we develop solutions which reduce sugar, calories and fat, add fibre, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings.
We have more than 3,000 employees working in around 60 locations across 30 countries. Tate & Lyle's purpose is Transforming Lives Through the Science of Food and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.
Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year ended 31 March 2021, Tate & Lyle's revenue from continuing operations totaled £1.2 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on Twitter, LinkedIn or Facebook.