Tate & Lyle announces sale of oat ingredients business to Lantmännen

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Tate & Lyle, a leading global provider of food and beverage ingredients and solutions, announces it has reached agreement to sell its oat ingredients business, based in Kimstad, Sweden, to Swedish agricultural cooperative Lantmännen. Completion of the transaction will take place on 29 March 2019.

oat ingredients business, based in Kimstad, Sweden

Joan Braca, President, Food & Beverage Solutions, Tate & Lyle said: "We are pleased to reach this agreement with Lantmännen which represents a good outcome for our oat ingredient employees and customers, and enables us to focus our business on serving our customers in our main food and beverage categories. We wish Lantmännen and its employees every success for the future."

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For more information contact:

Tate & Lyle PLC:
Anna Taylor (media)
Corporate PR Manager
Tel: +44 (0)207 257 2209 or mobile: +44 (0)7766 361 515
[email protected]

 

Christopher Marsh (investors)
VP Investor Relations
Tel: +44 (0) 20 7257 2110 or Mobile: +44 (0) 7796 192 688

 

Note to Editors:

On 8 November 2018, Tate and Lyle PLC announced that it was conducting a strategic review to determine the future of its oats ingredients business as it no longer believed it fit well with the mainstream food categories which it now focuses on. The sale is the outcome of this strategic review.

About Lantmännen:

Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 25,000 Swedish farmers, we have 10,000 employees, operations in over 20 countries and an annual turnover of SEK 45 billion (approximately EUR 4.5 billion). With grain at the heart of our operations, we refine arable land resources to make farming thrive. Some of our best-known food brands are AXA, Bonjour, Kungsörnen, GoGreen, Gooh, FINN CRISP, Schulstad and Vaasan. Our company is founded on the knowledge and values acquired through generations of farmers. With research, development and operations throughout the value chain, together we take responsibility from field to fork. For more information: www.lantmannen.com/en

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About Tate & Lyle: 
Tate & Lyle is a world leader in ingredient solutions for healthier food and beverages. 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 fortification, we develop solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings.

We have more than 3,500 employees working in around 57 locations across 39 countries. Tate & Lyle's purpose is Transforming Lives Through the Science of Food 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 2022, Tate & Lyle revenue from continuing operations totalled £1.4 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on TwitterLinkedinFacebook or YouTube