Tate & Lyle is offloading its oats ingredients business to Swedish agricultural cooperative Lantmännen following a strategic review.
Last year, Tate & Lyle, a global provider of food and beverage ingredients and solutions, announced that its oat ingredients business no longer “fit well” with the mainstream food categories that company wanted to focus on.
The sale to Lantmännen, which is owned by 25,000 Swedish farmers, is the outcome of the strategic review.
“We are pleased to reach this agreement with Lantmännen which represents a good outcome for our oat ingredient employees and customers, and enables us to focus our business on serving our customers in our main food and beverage categories,” said Joan Braca, President of Food & Beverage Solutions at Tate & Lyle
The transaction is slated to complete on March 29.
