Tate & Lyle PLC has completed its $1,8 billion acquisition of CP Kelco, a pectin, specialty gum and other ingredients company with a long history of working with food and beverage companies. The deal, originally announced June 20, is designed to strengthen Tate & Lyle’s food ingredients offerings as it seeks to meet the demand for health- and sustainability-focused food and beverage products.
Following the transaction, JM Huber Corp., the former owner of CP Kelco, holds a 16% stake in Tate & Lyle and is entitled to two non-executive representatives on the board. Joining the board are Glenn M. Fish, Huber’s executive vice president and chief financial officer, and Cláudia Vaz de Lestapis, Huber’s executive vice president and general counsel.
