Ingredients company Tate & Lyle has agreed a deal to acquire a 15% stake in US-based stevia producer Sweet Green Fields.
This purchase builds upon the agreement signed by Tate & Lyle and Sweet Green Fields in April 2017, which saw Tate & Lyle become the exclusive global distributor of Sweet Green Field’s stevia products.
Tate & Lyle claims that the investment will significantly strengthen its stevia-based product portfolio and strengthen the partnership between the two companies.
Nick Hampton, Tate & Lyle’s chief executive said: “We are delighted to build an even closer partnership with Sweet Green Fields.
“Their industry-leading portfolio of stevia-based ingredients is highly complementary to our portfolio of proprietary sugar reduction solutions, and the results from the first year of our global distribution partnership have been very encouraging.
“We look forward to working together with the Sweet Green Fields team to deliver truly break-through, great tasting stevia products for our customers.”
Joan Braca, president of Food & Beverage Solutions at Tate & Lyle, said: “Our customers around the world are looking for great tasting, nutritionally balanced, and sustainable food products.
“Our growing partnership with Sweet Green Fields will, through collaborative innovation and the diversification of our supply chain, help us meet those needs and make stevia sweeteners an integral part of our sweetener portfolio.”
Jingang Shi, chairman of Sweet Green Fields said: “Sweet Green Fields continues to grow its business strongly, driven by our leading portfolio of stevia-based ingredients and solutions.
“We are delighted to have the opportunity to strengthen our relationship with Tate & Lyle, and take our business to the next level of success.”
© FoodBev Media Ltd 2020