UK – Tate & Lyle PLC has acquired 137,085 of its own ordinary shares as part of its ongoing share buyback initiative, with purchase prices ranging from £6.84 (US$8.95) to £6.95 (US$9.09) per share.
These repurchased shares will be held in treasury, leaving the total number of shares in circulation at 388,905,655, excluding those held in treasury.
The acquisition was executed across multiple trading platforms, including the London Stock Exchange, Chi-X, and BATS.
This financial maneuver comes at a time when Tate & Lyle has been expanding its global presence, particularly in the ingredients sector.
Recently, the company inaugurated a new Customer Innovation and Collaboration Centre in Santiago, Chile, as part of its efforts to strengthen its footprint in Latin America.
This facility, equipped with a kitchen, application laboratory, and rapid prototyping capabilities, joins the company’s existing network of centers across Brazil and Mexico.
The Santiago center is intended to support collaboration between Tate & Lyle’s food scientists and regional customers, addressing the growing demand for healthier food solutions.
According to the company, the facility will focus on developing products that reduce sugar, fat, and calories, while increasing fiber content in consumer goods.
In addition to its work in Latin America, Tate & Lyle has also expanded its sustainable stevia program in China.
Following a successful on-farm pilot conducted in 2021, the company has increased its collaboration with local farmers.
These farmers will now receive further guidance on implementing best practices identified in a 2019 life-cycle analysis of stevia, which was later verified through the pilot.
The initiative, which aims to foster sustainable growth in the stevia industry, is being developed in partnership with Earthwatch Europe, an environmental organization, and Nanjing Agricultural University in East China.
Tate & Lyle, one of the UK stock market’s oldest companies, has undergone significant transformation in recent years.
In 2010, it exited the sugar business and later divested its commercial sweetener division. Now, it is expanding further with the US$1.8 billion acquisition of CP Kelco, a US-based producer of specialty ingredients, from JM Huber, a family-owned business.
