Tate & Lyle Sells US Animal Feeds Assets

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Tate & Lyle PLC announces the sale of its US Animal Feeds businesses at Johnstown, Colorado, and Billings, Montana. The sale, to Cattlemen's Choice Loomix Production, LLC, includes liquid feed plants together with the Loomix trademark. The value of the net assets sold at the end of March 2001 amounted to less than £1 million, and the sale will not affect the Group materially.

The disposal is part of an ongoing effort to divest of non-core or under-performing businesses and enables United Molasses North America to focus on developing its core business of marketing molasses to industrial and feed manufacturers.

About Tate & Lyle: 
Tate & Lyle is a global provider of solutions and ingredients for food, beverage and industrial markets.

Tate & Lyle operates through two global divisions, Food & Beverage Solutions and Primary Products, supported by the Innovation and Commercial Development and Global Operations teams. Food & Beverage Solutions is focused on growth by building leading positions globally in the categories of beverages, dairy, and soups, sauces and dressings. Primary Products is focused on delivering steady earnings and generating cash.

Food & Beverage Solutions consists of: Texturants, including speciality starches; Sweeteners, including low- and no-calorie sweeteners; and a Health and Wellness portfolio comprising mainly speciality fibres; and Stabilisers and Functional Systems, which are bespoke ingredient blends that ensure foods retain their structure.

Primary Products consists of high-volume sweeteners, industrial starches and fermentation products (primarily acidulants).  It also sells co-products from the corn milling process as animal nutrition.

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 2019, Tate & Lyle sales totalled £2.8 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or Linkedin.