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Golden Syrup Giant Tate & Lyle Sold to US Rival
8 Jun
Summary
- Tate & Lyle, a British firm, will be acquired by US-based Ingredion for approximately £2.7 billion.
- The sale marks the latest full takeover of a UK company by foreign buyers.
- Tate & Lyle has a long history dating back to 1859, with roots in Liverpool.
The British-founded sweetener and ingredients company Tate & Lyle has reached an agreement to be acquired by the US-based firm Ingredion for approximately £2.7 billion. This significant deal signifies the latest full takeover of a UK-headquartered company by a foreign entity.
Tate & Lyle's origins date back to 1859 when Henry Tate began a sugar refining business in Liverpool. By 1869, the business became Henry Tate & Sons. In 1883, a rival, Abram Lyle & Sons, began producing Golden Syrup, a product that remains iconic. The two historic rivals merged in 1921 to form Tate & Lyle Ltd, which went on to refine about half of the UK's sugar.
Throughout its history, Tate & Lyle has demonstrated resilience and innovation. In 1949, it successfully resisted a nationalization attempt by the government. More recently, in 1976, the company partnered to discover sucralose, a no-calorie sweetener eventually launched as Splenda. The sale to Ingredion marks a new chapter for the company, concluding its long tenure as an independent UK entity.
