Tate & Lyle Completes Retreat From Sugar
April 21
08:47
2011
Tate & Lyle is disposing of its sugar interests in Vietnam to TH Milk Food Joint Stock Company, a local Vietnamese company, for £33m. The transaction is expected to be completed in the first half of the current financial year.
The sale completes a two year disposal strategy that has entailed Tate & Lyle divesting its sugar factories around the world in order to focus on its Speciality Foods business, which produces the sweetener Sucralose, and its Bulk Products division, which manufactures products such as corn syrup.
The programme has involved the sale of Tate & Lyle’s European sugar business to US-based American Sugar Refining for £211m, and the £67m disposal of its Molasses operation to UK-based W& R Burnett.
