focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTate & Lyle Regulatory News (TATE)

Share Price Information for Tate & Lyle (TATE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 677.00
Bid: 601.00
Ask: 900.00
Change: 0.00 (0.00%)
Spread: 299.00 (49.75%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 677.00
TATE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

New Alliance with McNeil Nutritionals

13 Feb 2014 07:00

13 February 2014 – Tate & Lyle PLC

New Alliance with McNeil Nutritionals

Tate & Lyle PLC announces today the latest phase of its 30-year Sucralose partnership with McNeil Nutritionals, LLC through the establishment of a renewed SPLENDA® Alliance. The focus for the renewed partnership will be the development and growth of the global market for Sucralose and the SPLENDA® Brand. This is a natural evolution of the long-term partnership that has nurtured the success of Sucralose and the SPLENDA® Brand, following the strategic realignment announced in 2004. At that time, Tate & Lyle took over McNeil Nutritionals’ Sucralose manufacturing assets and responsibility for worldwide food and beverage ingredient sales, while McNeil Nutritionals, LLC retained ownership of the SPLENDA® Brand and the retail and food service business.

Both companies will partner on the continued development and promotion of the SPLENDA® Brand and Sucralose, including ingredient and brand protection initiatives. The new arrangements include terms for ongoing supply upon expiration of the current agreement. The partnership will continue to leverage the strengths of each company and ensure the continued growth of the SPLENDA® Sucralose business and the SPLENDA® Brand globally.

Javed Ahmed, Chief Executive of Tate & Lyle, said:

“We are delighted about the continuation of our established 30-year partnership with McNeil Nutritionals and look forward to the next phase of the relationship. Alongside our global partners, we are committed to growing the global market for SPLENDA® Sucralose, which remains the high intensity sweetener of choice due to its superior taste profile and stability, enabling its use across a broad range of applications. Together, we will continue to ensure that the SPLENDA® Brand remains the benchmark within the industry for quality, reliability and innovation well into the future.”

END

Notes to editors: selected historical background relating to SPLENDA® Sucralose based on previous disclosures

1976 Discovery of sucralose by Tate & Lyle and Queen Elizabeth's College, University of London researchers

1980 First agreements between Tate & Lyle and Johnson & Johnson. These were patent licences creating exclusive geographical territories for the two companies – for Johnson & Johnson, North America (excluding Canada), South America, the Caribbean, the Middle East and Australasia; for Tate & Lyle, Europe, Canada, Africa and Asia

1991 First approval granted for sucralose (Canada)

1998 US FDA approval for sucralose obtained

2000 McNeil's McIntosh plant, the world’s first integrated sucralose production facility, mechanically complete

2001 Global Sucralose Alliance announced, providing for the realignment of Tate & Lyle and McNeil sucralose activities. Under the realigned arrangements, Tate & Lyle to act as exclusive broker for sucralose ingredient sales in certain key markets; McNeil to market SPLENDA® Brand tabletop products exclusively

2003 EU approval for sucralose

2004 Further Sucralose realignment with Tate & Lyle becoming the sole manufacturer and responsible for worldwide ingredient sales of SPLENDA® Sucralose to food and beverage manufacturers and McNeil responsible for the worldwide SPLENDA® Brand retail and food service business. As part of the realignment, Tate & Lyle acquired McNeil’s sucralose manufacturing plant and other ingredient business assets for £71 million

The realignment included arrangements by which each company would participate in the success of the other. In the case of Tate & Lyle, deferred consideration was payable to McNeil for the first five years dependent on Tate & Lyle’s sucralose ingredient sales (above a target level). Tate & Lyle in turn received payments from McNeil based on McNeil sales of sucralose tabletop products for 10 years from the date of completion of the transaction. The aggregate amount paid to McNeil over the five years by Tate & Lyle amounted to £37 million. Assuming receipt of the £7 million payment anticipated in respect of the year ending 31 March 2014, the final such payment, the aggregate of the payments received from McNeil will amount to £75 million

2014 New SPLENDA® Alliance announced

For more information contact Tate & Lyle PLC:

Mathew Wootton, Group VP, Investor and Media RelationsTel: +44 (0) 20 7257 2110 or Mobile: +44 (0) 7500 100 320

Andrew Lorenz (FTI Consulting), Media RelationsTel: +44 (0) 20 7269 7113 or Mobile: +44 (0) 7775 641 807

About Tate & Lyle:

Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from over 30 production facilities around the world.

Tate & Lyle operates through two global business units, Speciality Food Ingredients and Bulk Ingredients, supported by the Innovation and Commercial Development group. The Group's strategy is to become the leading global provider of Speciality Food Ingredients through a disciplined focus on growth, and by driving Bulk Ingredients for sustained cash generation to fuel this growth.

Speciality Food Ingredients consists of three platforms: Texturants, which includes speciality starches and stabilisers; Sweeteners, which comprises nutritive sweeteners and our range of no-calorie sweeteners including SPLENDA® Sucralose; and our Health and Wellness portfolio which includes speciality fibres and our salt-reduction offering. Additionally, our food systems business provides a wide variety of blended ingredient solutions.

Tate & Lyle Bulk Ingredients includes bulk sweeteners, industrial starches and fermentation products (primarily acidulants). Corn co-products from both divisions are primarily sold as animal feed.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2013, Tate & Lyle sales totalled £3.3 billion. http://www.tateandlyle.com.

SPLENDA® is a trademark of McNeil Nutritionals, LLC.

Copyright Business Wire 2014

Date   Source Headline
19th Dec 20145:22 pmBUSTransaction in Own Shares
18th Dec 20145:13 pmBUSTransaction in Own Shares
17th Dec 20145:39 pmBUSTransaction in Own Shares
5th Dec 20145:26 pmBUSTransaction in Own Shares
5th Dec 20145:25 pmBUSHolding(s) in Company
5th Dec 201410:14 amBUSDirector/PDMR Shareholding
5th Dec 201410:05 amBUSDirector/PDMR Shareholding
4th Dec 20145:16 pmBUSTransaction in Own Shares
3rd Dec 20145:41 pmBUSTransaction in Own Shares
2nd Dec 20145:19 pmBUSTransaction in Own Shares
1st Dec 20145:51 pmBUSTransaction in Own Shares
1st Dec 201411:10 amBUSTotal Voting Rights
18th Nov 20142:34 pmBUSDirector/PDMR Shareholding
11th Nov 201410:42 amBUSDirector/PDMR Shareholding
6th Nov 20145:07 pmBUSDirector/PDMR Shareholding
6th Nov 20147:00 amBUSHalf-yearly Report
29th Oct 201410:00 amBUSBoard changes
16th Oct 20145:55 pmBUSHolding(s) in Company
1st Oct 20145:19 pmBUSHolding(s) in Company
1st Oct 20141:29 pmBUSTotal Voting Rights
29th Sep 20145:39 pmBUSDirector/PDMR Shareholding
26th Sep 20141:47 pmBUSDirector/PDMR Shareholding
23rd Sep 20147:00 amBUSTrading Statement
22nd Sep 20146:24 pmBUSHolding(s) in Company
19th Sep 201412:48 pmBUSHolding(s) in Company
1st Sep 20149:37 amBUSTotal Voting Rights
4th Aug 20144:53 pmBUSDirector/PDMR Shareholding
1st Aug 20144:38 pmBUSHolding(s) in Company
1st Aug 201412:05 pmBUSHolding(s) in Company
1st Aug 201410:00 amBUSTotal Voting Rights
31st Jul 20145:26 pmBUSDirector/PDMR Shareholding
31st Jul 201410:42 amBUSDirector/PDMR Shareholding
24th Jul 20143:38 pmBUSResult of AGM
24th Jul 20147:00 amBUSInterim Management Statement
8th Jul 201410:01 amBUSDirector/PDMR Shareholding
2nd Jul 20146:02 pmBUSDirector/PDMR Shareholding
1st Jul 20149:54 amBUSBlocklisting Interim Review
1st Jul 20149:45 amBUSTotal Voting Rights
25th Jun 20142:55 pmBUSDirector Declaration
24th Jun 20146:05 pmBUSDirector/PDMR Shareholding
24th Jun 20147:00 amBUSDirectorate Change
23rd Jun 20144:47 pmBUSAnnual Financial Report
20th Jun 201410:14 amBUSDirector/PDMR Shareholding
6th Jun 20144:59 pmBUSDirector/PDMR Shareholding
4th Jun 20145:33 pmBUSDirector/PDMR Shareholding
2nd Jun 20149:09 amBUSTotal Voting Rights
29th May 20145:15 pmBUSDirector/PDMR Shareholding
29th May 20147:01 amBUSEffect of Adoption of IFRS 11 ‘Joint Arrangements’
29th May 20147:00 amBUSFinal Results
1st May 201410:18 amBUSTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.