Tate & Lyle 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% of NewCo with KPS having Board and operational control.
The transaction creates two standalone businesses – Tate & Lyle and NewCo – each positioned to focus on their respective strategies and capital allocation priorities: Tate & Lyle, a leading global food and beverage solutions business focused on faster growing speciality markets, and NewCo, A leader in plant-based products for the food and industrial markets.
Photo: Tate & Lyle
