Tate & Lyle PLC (Tate & Lyle), a leading global provider of food and beverage ingredients and solutions, announces it has acquired substantially all of the assets of Nutriati, an ingredient technology company developing and producing chickpea protein and flour. Under the terms of the transaction, Tate & Lyle has acquired certain assets, including intellectual property assets, and assumed selected liabilities from Nutriati.
Nutriati’s responsibly-produced chickpea ingredients have been providing customers with highly nutritious plant-based solutions since 2018, offering a superior, premium taste and mouthfeel experience. Both the Artesa® Chickpea Protein and Artesa® Chickpea Flour can be found in leading non-dairy, plant-based meat and gluten free brands, mainly in North America.
This transaction builds on the distribution agreement previously signed between the two companies.
Nick Hampton, Chief Executive of Tate & Lyle, said: “Tate & Lyle is committed to breakthrough, innovative and sustainable plant-based solutions. This acquisition complements our existing ingredient portfolio perfectly and supports our purpose pillars of supporting healthy living and caring for our planet. We look forward to fully maximising the strong functional benefits of these plant-based, chickpea derived products and offering an even wider range of fortification solutions to our customers.”
Michael Todd, Chief Executive of Nutriati, commented: “Since establishing Nutriati, we have worked to solve taste, nutrition, functionality and sustainability challenges for the plant-based and gluten free markets. With a global reach and strong focus on health and wellbeing, Tate & Lyle is very well positioned to develop this offering and I wish them all the best for the future.”
About Tate & Lyle: Tate & Lyle is a leading global provider of food and beverage ingredients and solutions. Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day. Through our expertise in sweetening, mouthfeel and fortification, we develop solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings. We have more than 3,000 employees working in around 60 locations across 30 countries. Tate & Lyle's purpose is Transforming Lives Through the Science of Food and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.
Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2021, Tate & Lyle revenue from continuing operations totalled £1.2 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on Twitter, Linkedin or Facebook.