Tate & Lyle expands its Food Systems business in Latin America through new joint venture

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London, UK, 8 December 2014 – Tate & Lyle PLC (“Tate & Lyle”), a leading global provider of speciality food ingredients and solutions, is pleased to announce the establishment of a joint venture with Gemacom Tech Indústria e Comércio S.A. (“Gemacom Tech”) through the acquisition by Tate & Lyle of a majority equity interest in Gemacom Tech.

 

Founded in 1990, Gemacom Tech is the leading domestically-owned Food Systems business in Brazil, operating from two blending facilities and laboratories in the state of Minas Gerais, about 200km north of Rio de Janeiro. Gemacom Tech provides stabilizer systems and ingredient blends for customers across Brazil and some other South American countries, predominantly in the dairy category.

The transaction to establish the new joint venture, which will be known as Tate & Lyle Gemacom Tech, was completed on 4 December 2014. Tate & Lyle has an option to acquire the remaining equity interest in Gemacom Tech at a later stage. Gemacom Tech has annual sales of around US$30 million.

Joan Braca, President, Speciality Food Ingredients, Tate & Lyle said: “The combination of Tate & Lyle’s global blending capabilities and recipe know-how with Gemacom Tech’s strong local expertise and infrastructure provides us with an excellent platform on which to grow our Food Systems business in Brazil and across South America.”

Henrique de Castro Neves, General Manager, Gemacom Tech, who will also be General Manager of Tate & Lyle Gemacom Tech said: “Tate & Lyle and Gemacom Tech are two highly complementary businesses with the same focus on quality and customer service. Together, we will be able to offer our customers a significantly enhanced range of products and technical expertise”.
 

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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