TIDMTATE
RNS Number : 0180H
Tate & Lyle PLC
01 December 2020
1 December 2020
TATE & LYLE ACQUIRES SWEET GREEN FIELDS
Position as a leading global provider of sugar reduction and
clean-label solutions
strengthened by acquisition of stevia sweetener solutions
business
London, UK, 1 December 2020 - Tate & Lyle PLC (Tate &
Lyle), a leading global provider of food and beverage ingredients
and solutions, is pleased to announce the acquisition of Sweet
Green Fields (SGF), a leading global stevia solutions business.
The acquisition of SGF brings a broad portfolio of stevia
products and a fully integrated stevia supply chain to Tate &
Lyle including leaf sourcing, leaf varietal development,
established agricultural programmes and cost-efficient
manufacturing. It strengthens Tate & Lyle's position as a
leading provider of innovative sweetener solutions with the
capabilities to create foods and beverages that are lower in sugar
and calories and with cleaner labels for customers across the
world. The acquisition also extends Tate & Lyle's presence in
the faster growing Asia Pacific region with dedicated stevia
production and research and development facilities located in Anji,
China.
Tate & Lyle began its partnership with SGF in 2017 becoming
the exclusive global distributor of SGF's portfolio of stevia-based
ingredients and solutions, and then acquired a 15% equity holding
in SGF the following year. Tate & Lyle's acquisition of the
remaining shares of SGF simplifies the existing relationship by
creating a fully integrated supply chain and commercial
organisation, unified research and development capabilities, and
combined strengths to accelerate innovation and optimise production
technologies. Sweet Green Fields revenue for the year ending 31
December 2020 is expected to be around US$50 million, including
revenue for products Tate & Lyle currently sells as
distribution agent.
Stevia is one of the fastest growing low-calorie sweeteners used
globally, particularly in beverages, dairy and snacks, as demand
from consumers continues to grow for foods and beverages that are
lower in sugar and calories. Globally, from 2015 to 2019, product
launches that contain stevia grew by compound annual growth rate of
15%.(1) In the year ended 31 March 2020, Tate & Lyle's stevia
revenues grew by 23%, making it an important contributor to New
Products revenue growth.
Nick Hampton, Chief Executive, Tate & Lyle, said: "Sweet
Green Fields is an exceptional business with a leading portfolio of
stevia solutions, a strong team of stevia experts and an
impressive, fully-integrated supply chain. We are delighted to take
our relationship to the next level by bringing Sweet Green Fields
into the Tate & Lyle family. This acquisition supports our
strategy to grow our sweetener solutions portfolio and our purpose
of Improving Lives for Generations by helping us to deliver tasty
food and beverages with less sugar to consumers worldwide."
Dean Francis, Chief Executive, Sweet Green Fields, said: " I am
proud of the leading stevia business that the Sweet Green Fields
team has built. Tate & Lyle, with its global customer reach,
innovation focus, and strong sweetener portfolio, is the ideal
company to take Sweet Green Fields forward, supporting food and
beverage customers across the globe and enabling healthier consumer
diets."
Notes to editors
1. Mintel GNPD
ENDS
For more information contact
Anna Taylor-Elphick, Corporate PR Manager
anna.taylor-elphick@tateandlyle.com / +44 (0) 7766 361 515
Christopher Marsh, VP, Investor Relations
chris.marsh@tateandlyle.com / +44 (0) 7796 192 688
About Tate & Lyle:
Tate & Lyle PLC is a leading global provider of food and
beverage ingredients and solutions. Supported by our 160-year
history of ingredient innovation, we partner with customers to
provide consumers with healthier and tastier choices when they eat
and drink. We are proud that millions of people around the world
consume products containing our ingredients every day.
Through our expertise in sweetening, mouthfeel and fibre
fortification, our Food & Beverage Solutions business develops
solutions which reduce sugar, calories and fat, add fibre, and
provide texture and stability in categories including beverages,
dairy, bakery, soups, sauces and dressings. Our Primary Products
business produces nutritive sweeteners, industrial starches used in
paper and packaging, acidulants and products used for animal
nutrition.
We have around 4,200 employees working in more than 60 locations
across 30 countries. Tate & Lyle's purpose is Improving Lives
for Generations and through our purpose we believe we can
successfully grow our business and have a positive impact on
society. We live our purpose in three ways, by supporting healthy
living, building thriving communities and caring for our
planet.
Tate & Lyle is listed on the London Stock Exchange under the
symbol TATE.L. American Depositary Receipts trade under TATYY. In
the year to 31 March 2020, Tate & Lyle sales totalled GBP2.9
billion. For more information, please visit
http://www.tateandlyle.com or follow Tate & Lyle on Twitter or
Linkedin .
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END
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