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Molasses Brown Bread Dilemma
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Tate & Lyle to be split after US private equity firm swoops
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Sweeteners giant Tate & Lyle is preparing for a breakup and sale.
The firm yesterday confirmed it is looking at the potential separation of its primary products division, the biggest source of sales, following a press report.
It sold its sugar business – which included Lyle s Golden Syrup – in 2010.
Breakup: Tate & Lyle sold its sugar business – which included Lyle s Golden Syrup – in 2010
The primary products division sells artificial sweeteners used in soft drinks and industrial starches and brought in revenues of £1.8billion last year.
It is thought to be worth more than £1.2billion. The food and beverage solutions division boasts annual sales of about £942m.
08:51
FTSE flat after opening in the red
Looking at the wider index, the FTSE 100 dipped 0.2 per cent at the open but is currently flat at 6,944.
Partly weighing on the export-heavy index is a stronger pound, which is up 0.3 per cent against the dollar, with £1 buying 1.392 on currency markets this morning.
Among the top fallers are utilities groups Pennon and United Utilities, along with large dollar-earning consumer staples companies such as Diageo and British American Tobacco.
Meanwhile, British Airways parent IAG and engine makers Rolls-Royce are the top risers, with shares up around 2 per cent.
The domestically focussed mid-cap FTSE 250 index is doing better, rising 0.3 per cent to 22,436.
Tate & Lyle in talks to sell sweeteners division in move to healthier food
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