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Ingredion and Tate & Lyle’s boards have today (8 June 2026) announced an agreement on the terms of an all-cash £2.7 billion acquisition offer put forward by Ingredion.

The transaction, subject to approval by Tate & Lyle’s shareholders, implies a total enterprise value of approximately £3.7 billion ($5 billion). Tate & Lyle shareholders will receive 595p in cash per share, representing a premium of nearly 59% to Tate & Lyle’s closing price on 13 May 2026.

The proposal was first announced last month, with Tate & Lyle confirming the discussions following several 'earlier approaches' from Ingredion.

The deal would bring together two F&B industry powerhouses with complementary portfolios to create a scaled, global speciality ingredients provider. The companies aim to better address evolving consumer needs by building a wider platform that combines both business’ strengths, technical expertise and international supply networks.

In particular, the acquisition of Tate & Lyle will broaden Ingredion’s portfolio across texturants, sugar reduction and fortification, adding complementary capabilities in multi-ingredient systems and recipe development.

Completion of the acquisition is expected in the second half of 2027. Tate & Lyle’s board of directors said it will unanimously recommend shareholders vote in favour of the deal.

Jim Zallie, chairman, president and CEO of Ingredion, said: “Combining Ingredion and Tate & Lyle’s complementary portfolios establishes a global leader in ingredient solutions with the innovation expertise and geographic reach that will help create the future of food”.

“The combined business will be better positioned to serve customers’ needs for the development of great-tasting, healthier and affordable food products that consumers demand. This compelling combination will create exciting new possibilities for employees and generate significant value for all stakeholders.”

David Hearn, chair of Tate & Lyle, commented: “Over the last few years, Tate & Lyle has been successfully repositioned as a leading global specialty food and beverage solutions business aligned to growing consumer demand for healthier, more nutritious and sustainable food and drink.”

“I would like to recognise the exceptional contribution of the team at Tate & Lyle for their talent, insight and commitment which has been a key driver of this transformation and the business we have built. Looking forward, we believe the next chapter with Ingredion will create a business with even greater potential, greater scale, and increased investment in innovation in support of customers.”