Tate & Lyle Sells Oat Ingredients Business to Lantmännen

Tate & Lyle, a leading global provider of food and beverage ingredients and solutions, announced it has reached an agreement to sell its oat ingredients business, based in Kimstad, Sweden, to Swedish agricultural cooperative Lantmännen. Completion of the transaction will take place on March 29th, 2019.

Joan Braca, President, Food & Beverage Solutions, Tate & Lyle said: “We are pleased to reach this agreement with Lantmännen which represents a good outcome for our oat ingredient employees and customers, and enables us to focus our business on serving our customers in our main food and beverage categories. We wish Lantmännen and its employees every success for the future.”

On 8 November 2018, Tate and Lyle PLC announced that it was conducting a strategic review to determine the future of its oats ingredients business as it no longer believed it fit well with the mainstream food categories which it now focuses on. The sale is the outcome of this strategic review.

Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 25,000 Swedish farmers, they have over 10,000 employees, operations in over 20 countries and an annual turnover of SEK45bn (approximately EUR4.5bn).