Tue, 27 Apr 2021 | DIVISION SALE
Tate & Lyle has revealed it is talking to a number of potential buyers as it prepares to sell its sweeteners division.
In a bid to move towards healthier food products, the 162-year-old company is in "early stage" talks with new partners regarding the sale of a controlling stake in the business, which generates around £1.8 billion of the firm's £2.9 billion revenue.
Tate & Lyle sold its sugar business - which included Lyle's Golden Syrup - in 2010. Now the primary products division, which sells artificial sweeteners used in soft drinks and industrial starches, will be separated from the food and beverage solutions business, which contributes around £942 million in sales to the company.
Commenting on the potential sale, a company spokesperson said: "Tate & Lyle notes recent media speculation and confirms that it is in the process of exploring the potential to separate its food and beverage solutions and primary products businesses through a sale of a controlling stake in its primary products business to a new long-term financial partner."
According to the company, the split will allow the business to focus on new priorities as it seeks to expand in different directions using profit generated by the stake sale.
"Tate & Lyle continues to successfully execute its strategy and remains confident in the future growth prospects of the company," it said. "However, the board believes that if a transaction of this nature was completed it would enable Tate & Lyle and the new business to focus their respective strategies and capital allocation priorities and create the opportunity for enhanced shareholder value."
Find businesses for sale here.
If you are looking for an exit, we can help!
A long-established business which has been owned and operated by the owners for in excess of 12 years. The premises is well presented throughout, with quality fixtures, fittings and equipment included within the sale price.
FREEHOLD
Greek food delivery business based in the busiest part of London. The business is operating for more than 3 years and serving bar customers, the worker's lunch with a kiosk facing the street, and also delivery platforms (Deliveroo, Uber Eats, and Ju...
LEASEHOLD
A technology focussed company, operating an international private chef service where it provides its clients with restaurant quality experiences at affordable prices in the comfort of their own homes or holiday accommodation. As an innovative oper...
LEASEHOLD