Tate & Lyle completes Mexican sugar sale

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Tate & Lyle completes Mexican sugar sale

Tate & Lyle completes Mexican sugar sale

January 02, 2008
Source
Foodnavigator USA

Tate &Lyle has completed its sale of its Mexican sugar business, removing itself from volatile commodity markets and allowing it to refocus on value-added ingredients.

The ingredients giant announced the move in October and has since received clearance under the Mexican Federal Economic Competition Law to complete the sale of its 49 per cent shareholding in its Mexican business, Grupo Industrial Azucarero de Occidente.

The firm sold its stake to E D &F Man Holdings for US$93m (€66.5m), marking Tate &Lyle's departure from the sugar industry in the Americas.

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  • Tate and Lyle PLC

    Tate & Lyle is a leading manufacturer of renewable food and industrial ingredients, headquartered in the United Kingdom. Tate & Lyle currently operates more than 45 production facilities, mainly in the Americas, Europe and South East Asia.

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