LONDON — Tate & Lyle PLC on Nov. 15 announced it has completed the acquisition of CP Kelco US, CP Kelco China and CP Kelco ApS together with each of their subsidiaries from J.M. Huber Corp. CP Kelco supplies pectin, specialty gums and other ingredients.
“This is an exciting time for both businesses as we come together to create a new and compelling proposition for our customers,” said Nick Hampton, chief executive officer of London-based Tate & Lyle. “With its unique portfolio of ingredients and solutions capabilities, and leading positions across sweetening, mouthfeel and fortification, the combined business is perfectly positioned to support customers as they look to meet growing global consumer demand for healthier, tastier and more sustainable food and drink.”
Tate & Lyle’s plans to acquire CP Kelco originally were announced June 20.
Under the transaction, J.M. Huber Corp. is entitled to two non-executive directors on Tate & Lyle’s board of directors. Joining the board are Glenn M. Fish, executive vice president and chief financial officer for Huber, and Cláudia Vaz de Lestapis, executive vice president, general counsel and corporate secretary for Huber, which now owns about 16% of Tate & Lyle’s share capital.
