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Prices & Quotes - UK Markets - Tate & Lyle (TATE)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 752.00p
Change Today:
-2.40p
Market Cap:
3,522.55m
Sector:
Food Producers

Tate & Lyle buys stevia solutions business Sweet Green Fields

By Michele Maatouk

Date: Tuesday 01 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Tate & Lyle said on Tuesday that it has bought Sweet Green Fields (SGF), a stevia sweetener solutions business, for an undisclosed sum.
The acquisition brings a broad portfolio of stevia products and a fully integrated stevia supply chain to Tate & Lyle, including leaf sourcing, leaf varietal development, established agricultural programmes and cost-efficient manufacturing.

Tate said the deal strengthens its position as a leading provider of innovative sweetener solutions with the capabilities to create foods and beverages that are lower in sugar and calories. It also extends the company's presence in the faster growing Asia Pacific region with dedicated stevia production and research and development facilities located in Anji, China.

Tate & Lyle began a partnership with SGF in 2017, becoming the exclusive global distributor of its portfolio of ingredients and solutions. It then bought a 15% equity holding in the business the following year.

"Tate & Lyle's acquisition of the remaining shares of SGF simplifies the existing relationship by creating a fully integrated supply chain and commercial organisation, unified research and development capabilities, and combined strengths to accelerate innovation and optimise production technologies," it said.

Sweet Green Fields' revenue for the year ending 31 December 2020 is expected to be around $50m, including revenue for products Tate currently sells as distribution agent.



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Tate & Lyle Market Data

Currency UK Pounds
Price 752.00p
Change Today -2.40p
52 Week High 756.00p
52 Week Low 530.20p
Volume 912,197
Shares Issued 468.42m
Market Cap 3,522.55m

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 6
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Tate & Lyle Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Nov-20 18-Jun-20
Paid 06-Jan-21 31-Jul-20
Amount 8.80p 20.80p

Trades for 05-Mar-2021

Time Volume / Share Price
16:37 509 @ 752.00p
16:35 444,771 @ 752.00p
16:29 123 @ 752.80p
16:29 40 @ 752.80p
16:29 68 @ 752.80p

Tate & Lyle Key Personnel

CEO Nick Hampton
Chair Gerry M Murphy
CFO Imran Nawaz