Tate & Lyle board approves takeover by Ingredion

Tate & Lyle’s board unanimously recommends to its shareholders Ingredion’s all-cash offer to acquire the company for approx. US$5 billion. The acquisition will create one of the world’s largest ingredients company, combining Ingredion’s solutions in sugar reduction and texture with Tate & Lyle’s expertise in mouthfeel, sweetening, and fortification. It will also offer Ingredion critical scale in North America, Europe and emerging markets.

“The combined business will be better positioned to serve customers’ needs for the development of great-tasting, healthier and affordable food products that consumers demand. This compelling combination will create exciting new possibilities for employees and generate significant value for all stakeholders,” said Jim Zallie, chair, president and CEO of Ingredion.

David Hearn, chair of Tate & Lyle added, “We believe the next chapter with Ingredion will create a business with even greater potential, greater scale, and increased investment in innovation in support of customers. The Board of Tate & Lyle believes Ingredion’s offer represents an attractive opportunity for shareholders to crystalise value in cash, and that it will be an excellent steward of Tate & Lyle. The Board therefore unanimously recommends Ingredion’s offer to Tate & Lyle’s shareholders.”

The acquisition is expected to be completed in the second half of 2027.