FDBusiness.com

Tate & Lyle Sells Molasses Business

 Breaking News
  • 2 Sisters and Standards in Poultry Processing Report Published The Environment, Foods and Rural Affairs Committee in the UK has published its report into 2 Sisters Food Group and Standards in Poultry Processing. The Committee launched an inquiry into 2 Sisters and poultry standards following the undercover footage released by The Guardian and ITN. The evidence sessions looked at the issues raised at the 2 [...]...
  • ADM Wins ‘Most Innovative Food Ingredient’ at Gulfood Excellence Awards Archer Daniels Midland Company has been awarded ‘most innovative food ingredient’ for its natural sweetening solution, Fruit Up® Fiber, at this year’s Gulfood Manufacturing Industry Excellence Awards. The awards recognize best practices and innovation within the food manufacturing industry value chain. Entries were judged on the additional value the innovations brought to developers, as well as [...]...
  • Bayn Europe Enters China Sugar Reduction Market Bayn Europe has signed a strategic framework agreement with Kong Wua Group in China, outlining the establishment of a R&D center for sugar reduction and production of sugar replacer solutions. Through the agreement, Bayn and Kong Wua will bring sugar replacer solution to the market to help tackle the sugar over-consumption social problems. “It is important [...]...
  • It’s Time to End Food Waste – White Paper Among the most interesting topics in the publication ‘It’s time to end food waste’ is a closer look at the psychology of food waste by Nina Waldhauer at the University of Wageningen. Waldhauer explains how “(…) the food sector business can create opportunities for reducing consumer-related food waste. It can be done in ways that acknowledge consumer´s goal [...]...
  • Orkla Sells K-Salat to Stryhns Orkla Foods Danmark has agreed to sell its K-Salat business to Stryhns, which is part of the Norwegian Agra group. The purpose of the sale is to concentrate Orkla’s activities on fewer categories. K-Salat has a product portfolio of salad spreads, mayonnaise, remoulade, dressings and potato salads in Denmark. Under the agreement, Stryhns will take over [...]...

Tate & Lyle Sells Molasses Business

Tate & Lyle Sells Molasses Business
November 29
14:23 2010

Tate & Lyle is selling its Molasses business to W&R Barnett for £67m in cash. Molasses comprises the global molasses trading desk based in London, UK and other worldwide marketing operations together with the UK third party storage operations. These businesses had external sales of £228m and made an operating profit of £13m in the year to March 31st 2010, and had gross assets of £81m at that date. The sale excludes historic UK pension assets and liabilities and, after costs and subject to movements in exchange rates, is expected to give rise to a small book profit on disposal.

Javed Ahmed, chief executive of Tate & Lyle.

The proceeds from the disposal will be used to reduce Tate & Lyle’s net debt. Completion is expected to occur in the next few weeks.

In July 2010, Tate & Lyle announced the disposal of its EU Sugar Refining operations, and its intention to sell the remaining businesses within its Sugars division, principally Molasses and Vietnamese sugar. The sale of the Vietnamese sugar business is progressing to plan.

“Tate & Lyle’s clear priority is to grow its Speciality Food Ingredients business, supported by cash generated from Bulk Ingredients. This disposal represents another important step as we focus, fix and grow our business,” says Javed Ahmed, chief executive of Tate & Lyle.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements