Page 10 - Ameft Journal 2021/1

INGREDIENTS
Tate & Lyle acquires Sweet Green Fields
(Source: Tate & Lyle)
Tate & Lyle PLC (Tate & Lyle), a leading global provider of food and beverage ingredients and solutions, announced the acquisition of Sweet Green Fields (SGF), a leading global stevia solutions business early December 2020.
“Sweet Green Fields is an exceptional business with a lea- ding portfolio of stevia solutions, a strong team of stevia ex-
stevia-based ingredients and solutions, and then acquired a 15% equity holding in SGF the following year. Tate & Lyle’s acquisition of the remaining shares of SGF simplifies the exi- sting relationship by creating a fully integrated supply chain and commercial organisation, unified research and deve- lopment capabilities, and combined strengths to accelerate innovation and optimise production technologies. Sweet Green Fields revenue for the year ending 31 December 2020 is expected to be around US$50 million, including revenue for products Tate & Lyle currently sells as distribution agent.
Stevia is one of the fastest growing low-calorie sweete- ners used globally, particularly in beverages, dairy and snacks, as demand from consumers continues to grow for foods and beverages that are lower in sugar and calories. Globally, from 2015 to 2019, product launches that con- tain stevia grew by compound annual growth rate of 15%. By March 2020, Tate & Lyle’s stevia revenues grew by 23%, making it an important contributor to new product’s revenue growth.
AVO steps into GCC meat-processing industry
When it is a matter of developing convincing taste trends for the meat-processing industry, AVO is right up there at the front with its innovative and trailbla- zing solutions. As one of the German market leaders for seasoning mixtures, marinades and additives, the pri- vately owned company now plans to serve the clients around the GCC directly.
Celebrating its centenary in 2021 with a history that shows that good taste knows no borders, AVO has alrea- dy set its mark in the Middle East through its long- standing partner with Bayan Co. AVO has a sales of approximately 140 million euros per year, more than 40,000 tons per year production and 8,000 products. With 12,000 customers, it has a strong global pre- sence.
While keeping sustainable management a core con- cern, AVO puts healthy eating as a top priority being a responsible food producer.
Source: (AVO)
perts and an impressive, fully-integrated supply chain. We are delighted to take our relationship to the next level by bringing Sweet Green Fields into the Tate & Lyle family. This acquisition supports our strategy to grow our sweetener so- lutions portfolio and our purpose of Improving Lives for Ge- nerations by helping us to deliver tasty food and beverages
with less sugar to consumers worldwide.”, said Nick Hamp- ton, Chief Executive, Tate & Lyle.
Meanwhile, Dean Francis, Chief Executive, Sweet Green Fields, said: “I am proud of the leading stevia business that the Sweet Green Fields team has built. Tate & Lyle, with its glo- bal customer reach, innovation focus, and strong sweetener portfolio, is the ideal company to take Sweet Green Fields forward, supporting food and beverage customers across the globe and enabling healthier consumer diets.”
The acquisition of SGF brings a broad portfolio of stevia products and a fully integrated stevia supply chain to Tate & Lyle including leaf sourcing, leaf varietal development, es- tablished agricultural programmes and cost-efficient manuf- acturing. It strengthens Tate & Lyle’s position as a leading provider of innovative sweetener solutions with the capabi- lities to create foods and beverages that are lower in sugar and calories and with cleaner labels for customers across the world. The acquisition also extends Tate & Lyle’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 its partnership with SGF in 2017 beco- ming the exclusive global distributor of SGF’s portfolio of
10 AMEFT 1 2021
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