Tate & Lyle Completes Acquisition of CP Kelco, Create a Global Food and Beverage Powerhouse

Tate & Lyle, a global leader in specialty food and beverage solutions, announced a successful completion of its acquisition of CP Kelco, a leading provider of nature-based ingredients on November 15. This strategic move positions the combined company to meet the growing global demand for healthier, tastier, and more sustainable food and drink products. Kelco is a sizeable supplier of pectin and specialty gums.

Initially, the merger was announced in June, but the details were not disclosed. As part of the acquisition, J.M. Huber Corporation, the former owner of CP Kelco, has secured two seats on Tate & Lyle's board of directors. Glenn M. Fish, Executive Vice President and Chief Financial Officer of Huber, and Cláudia Vaz de Lestapis, Executive Vice President, General Counsel, and Corporate Secretary of Huber, have been appointed as non-executive directors. Lestapis also now owns approximately 16% of Tate & Lyle’s share stake.

The merger of Tate & Lyle and CP Kelco has resulted in a more robust and diversified product portfolio, encompassing a wider range of natural ingredients. By integrating their research and development teams, the combined company is poised to accelerate the development of innovative products. Additionally, the expanded global footprint will allow the company to better serve customers in key markets worldwide. The synergy between the two companies is expected to yield significant cost savings and drive long-term value creation.

The acquisition of CP Kelco further strengthens Tate & Lyle's position as a global leader in sweetening, mouthfeel, and fortification solutions. By combining the expertise and innovative capabilities of both companies, the new entity is well-equipped to deliver comprehensive solutions to customers worldwide.

Nick Hampton, Chief Executive Officer of Tate & Lyle has expressed his enthusiasm for the completion of the acquisition and said, "Today marks a new chapter in Tate & Lyle's history. We are thrilled to welcome our new colleagues from CP Kelco to the Tate & Lyle family. Together, we will create a powerful force in the food and beverage industry, driving innovation and delivering superior value to our customers."

Tate & Lyle is optimistic about the future of the combined company. The company is committed to investing in research and development, sustainability initiatives, and operational excellence to drive long-term growth and create value for all stakeholders.

By leveraging the strengths of both companies, Tate & Lyle is well-positioned to capitalize on the growing demand for a natural, healthy, and sustainable food and beverage solutions.