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.

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.