Tate & Lyle to bought by Illinois-based company for $5 billion

DECATUR, Ill. (WAND) - Ingredion Incorporated, a global ingredient solutions provider, has bought Tate & Lyle, the company announced Monday.

The transaction implies a total enterprise value of around $5 billion.

Tate & Lyle is a London-based company specializing in food science and ingredients. The company purchased the Decatur-based A.E. Staley Manufacturing Co. in the late 1980s, but has since spun off its Decatur plant to Primient.

According to Tate & Lyle's website, the company still leases space at the 2200 E. Eldorado facility and will continue to produce some of its sweeteners there.

Ingredion said the acquisition will bring together the two businesses with a "shared commitment to innovation, customer partnership and scientific excellence."

"Together, the combined group will be better positioned to help customers address evolving consumer needs by delivering products that are nutritious and affordable, with the taste, texture and quality that consumers expect. By combining complementary ingredient portfolios, technical expertise and geographic supply networks, the Acquisition will accelerate Ingredion’s ongoing transformation and enhance its ability to support customers as they address the trends reshaping the global food and beverage industry," Ingredion said in a statement.

Ingredion’s Board of Directors unanimously approved the transaction. Tate & Lyle's Board of Directors intends to unanimously recommend that its shareholders vote in favor.

Ingredion is based in Westchester, Illinois. Completion of the acquisition is expected to happen in late 2027.

Additional information on Tate & Lyle is available online.