Tate & Lyle, the global renewable ingredients company, today announced the completion of the acquisition of the US specialty food ingredients company Continental Custom Ingredients (“CCI”). This follows the initial acquisition announcement of 5 December 2005.
CCI was founded in 1975, with headquarters and primary operations in Sycamore, Illinois. It also has operations in Mexico and Canada. CCI is a recognised leader in dairy stabilisers and emulsifier systems and works closely with customers to develop ingredient systems for the North American market. CCI also has expertise in beverage flavours and vitamin and mineral fortification. CCI will now trade as Tate & Lyle Custom Ingredients.
D Lynn Grider, President of Tate & Lyle, Food & Industrial Ingredients, Americas said, “We are focused on delivering ingredient solutions to our customers and have identified the dairy industry as a key growth area. The acquisition of CCI enables us to advance these initiatives by bringing to Tate & Lyle new expertise in the areas of dairy stabilisers, hydrocolloids systems, emulsifiers, vitamins and flavours.
Additionally, CCI has an established sourcing network which will enable us to develop ingredient systems with an even broader range of functional food ingredients. CCI's dairy knowledge and blending operations compliment our fundamental ingredient technologies and operational efficiencies, enabling us to provide our customers with an even greater level of service and an increased range of innovative products.”
Ray Minzner, Chief Executive Officer of CCI (who will become President - Tate & Lyle Custom Ingredients) said, “We have been a customer of Tate & Lyle for many years and are pleased to build upon our relationship. Being part of a global ingredients business will promote faster growth, open up international markets, and ensure we realize the full potential of our strong team and our new facility in Sycamore, Illinois. We very much look forward to our future as part of a company which has global reach but which values community relationships."
Tom Doxsie, Senior Vice President, Food Ingredients, Tate & Lyle, Food & Industrial Ingredients, Americas said, “The addition of CCI to Tate & Lyle vertically integrates us closer to our shared customer base and to the dairy industry. The combination of our Research & Development expertise and broad ingredient portfolio, coupled with CCI's intimate dairy knowledge, speed and agility to market, provides a solid foundation for growth.”
About Tate & Lyle
Tate & Lyle is a world leading manufacturer of renewable food and industrial ingredients. It uses innovative technology to transform corn, wheat and sugar into value-added ingredients for customers in the food, beverage, pharmaceutical, cosmetic, paper, packaging and building industries. The Company is a leader in cereal sweeteners and starches, sugar refining, value added food and industrial ingredients, and citric acid. Tate & Lyle is the world number-one in industrial starches and is the sole manufacturer of SPLENDA® Sucralose.
Headquartered in London, Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. In the US its ADRs trade under TATYY. The Company operates more than 60 production facilities in 28 countries, throughout Europe, the Americas and South East Asia. It employs 6,700 people in its subsidiaries with a further 4,500 employed in joint ventures. Sales in the year to 31 March 2005 totalled £3.3 billion. Additional information can be found on this website www.tateandlyle.com.
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