UK food ingredients giant Tate & Lyle is reportedly set to announce the sale of its sugars business to American Sugar Refining.

Reports in the UK suggest a deal worth GBP200m (US$299m) could be unveiled tomorrow, although Tate & Lyle has yet to announce any transaction publicly.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Tate & Lyle’s sugar division includes Lyle’s Golden Syrup – purported to be the world’s oldest brand – and a sale would see the company effectively sever its ties with the sector in which the group was founded.

Analysts have been unconvinced about the future of Tate & Lyle’s sugar business for some months.

In May, the company’s chief executive Javed Ahmed outlined his plans for the group, including greater focus on value-added food ingredients.

See Also:

“There is a real need for making some clear choices and a real need for focus,” Ahmed told analysts. “We want to become the leading provider of speciality ingredients and food solutions worldwide.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Ahmed then insisted he was not planning to sell any parts of Tate & Lyle’s business but said the group was always looking to “maximise shareholder value”.

However, he said the group’s speciality ingredients business presented an opportunity for good long-term growth due to the increased demand for health and wellness products.

Ahmed also said there was scope for the group to expand its customers beyond its core client base of large food manufacturers and that the company would look to boost its presence in emerging markets.