UK-based food processor Tate & Lyle revealed today [Friday] that it has sold two US subsidiaries as part of a move to divest non-core and underperforming businesses.
The businesses, situated in Colorado and Montana, were involved in animal feed production and have been sold to Cattleman’s Choice Loomix Production.
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In March this year, the two companies’ net assets were valued at less than £1m (US$1.43m), and Tate & Lyle has stressed therefore that the sale would not affect the group materially.
