12.01.20
Food and beverage ingredient specialist Tate & Lyle PLC has acquired Sweet Green Fields (SGF), a global stevia business with estimated revenue of about $50 million in 2020. The deal is expected to strengthen Tate & Lyle’s position as a leading provider of sweetener solutions.
SGF brings a broad portfolio of stevia products and a fully integrated stevia supply chain to Tate & Lyle, including leaf sourcing, leaf varietal development, established agricultural programs and cost-efficient manufacturing.
The acquisition also extends Tate & Lyle’s presence in the faster growing Asia Pacific region with dedicated stevia production and research and development facilities located in Anji, China.
Tate & Lyle began its partnership with SGF in 2017 becoming the exclusive global distributor of SGF’s portfolio of stevia-based ingredients and solutions, and then acquired a 15% equity holding in SGF the following year. Tate & Lyle’s acquisition of the remaining shares of SGF simplifies the existing relationship by creating a fully integrated supply chain and commercial organization, unified research and development capabilities, and combined strengths to accelerate innovation and optimize production technologies, the company said.
Stevia is one of the fastest growing low-calorie sweeteners used globally, particularly in beverages, dairy and snacks, as demand from consumers continues to grow for foods and beverages that are lower in sugar and calories.
Globally, from 2015 to 2019, product launches that contain stevia grew by compound annual growth rate of 15%, according to Mintel. In the year ended March 31, 2020, Tate & Lyle’s stevia revenues grew by 23%.
SGF brings a broad portfolio of stevia products and a fully integrated stevia supply chain to Tate & Lyle, including leaf sourcing, leaf varietal development, established agricultural programs and cost-efficient manufacturing.
The acquisition also extends Tate & Lyle’s presence in the faster growing Asia Pacific region with dedicated stevia production and research and development facilities located in Anji, China.
Tate & Lyle began its partnership with SGF in 2017 becoming the exclusive global distributor of SGF’s portfolio of stevia-based ingredients and solutions, and then acquired a 15% equity holding in SGF the following year. Tate & Lyle’s acquisition of the remaining shares of SGF simplifies the existing relationship by creating a fully integrated supply chain and commercial organization, unified research and development capabilities, and combined strengths to accelerate innovation and optimize production technologies, the company said.
Stevia is one of the fastest growing low-calorie sweeteners used globally, particularly in beverages, dairy and snacks, as demand from consumers continues to grow for foods and beverages that are lower in sugar and calories.
Globally, from 2015 to 2019, product launches that contain stevia grew by compound annual growth rate of 15%, according to Mintel. In the year ended March 31, 2020, Tate & Lyle’s stevia revenues grew by 23%.
