Tate & Lyle disposes of storage businesses in Kenya and Tanzania

| Filed in:
Tate & Lyle PLC ("Tate & Lyle") announces the sale of East African Storage Company Limited ("EAS") of Kenya and Tanzania Liquids Storage Company Limited ("TLS") of Tanzania. The two storage businesses have been acquired by African Bulk Commodities Limited and Africa Tank Terminals Ltd respectively, both of Mauritius. At the end of March 2001 the value of the net assets of 100% of EAS and the 40% of TLS then owned by Tate & Lyle totalled £1.3 million. Prior to, and as a condition of, the disposal Tate & Lyle acquired the 60% of TLS which it did not previously own for £0.6 million. The proceeds of these disposals will be used to reduce Group debt.

Click here for our press image gallery

About Tate & Lyle PLC:  

Supported by our 165-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients and solutions every day.  

Through our leading expertise in sweetening, mouthfeel and fortification, we develop ingredients and solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture and stability to food and drink in categories including beverages, dairy, bakery, snacks, soups, sauces, and dressings.  

Tate & Lyle recently acquired CP Kelco, a leading provider of pectin, speciality gums and other nature-based ingredients to create a leader in mouthfeel, significantly enhancing our solutions capabilities. Following this combination, we now have more than 5,000 employees working in around 75 locations in 39 countries, serving customers in more than 120 countries. Science, Solutions, Society is our brand promise and how we will achieve our purpose of Transforming Lives through the Science of Food. By living our purpose, we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.  

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. For the year ended 31 March 2024, and on a pro forma basis which assumes for illustrative purposes that the combination with CP Kelco took place on 1 April 2023, revenue for the enlarged Tate & Lyle Group would have been £2.25 billion. For more information, please visit www.tateandlyle.com or follow Tate & Lyle on LinkedIn, X (Twitter), Facebook or YouTube