Tate & Lyle to be re-positioned as a growth-focused global speciality food and beverage solutions business
Proposed sale of a controlling stake in Tate & Lyle’s Primary Products business to KPS Capital Partners, LP.
Tate & Lyle has announced that it has 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 percent of NewCo with KPS having Board and operational control.