Tate & Lyle acquires oat beta glucan maker
LONDON — Tate & Lyle P.L.C., a global provider of specialty food ingredients and solutions, has acquired Biovelop, a Swedish manufacturer of oat beta glucan. Financial terms of the transaction were not disclosed.
Biovelop, which was founded in 2005 and made its first sale of commercial product in 2010, makes oat beta glucan under the brand names PromOat and Avenacare at a production facility in Kimstad, Sweden. PromOat is used in the food, beverage and supplement markets, while Avenacare is use in the cosmetics industry. In addition, Biovelop produces a range of other oat-based ingredients including PrOATein (oat protein), oat dextrin and insoluble oat fiber. Biovelop said its products are manufactured from non-bioengineered oats sourced from within Sweden using a chemical-free process.
Beta glucan is a soluble fiber that has approved health claims, including from the European Food Safety Authority, for lowering cholesterol and reducing post prandial glycaemic response.
“We are delighted to welcome the Biovelop business and its employees to Tate & Lyle,” said Olivier Rigaud, president of Speciality Food Ingredients for Tate & Lyle. “The addition of Biovelop’s soluble oat beta glucan, supported by strong scientific health claims, represents an excellent addition to Tate & Lyle’s existing fibers and health and wellness portfolios.”