Tate & Lyle has acquired Sweet Green Fields (SGF), a global stevia solutions business.
The acquisition of SGF brings its portfolio of stevia products and an integrated stevia supply chain to Tate & Lyle including leaf sourcing, leaf varietal development, agricultural programmes.
It will improve Tate & Lyle’s capabilities to create foods and beverages that are lower in sugar and calories and with cleaner labels for customers across the world.
Tate & Lyle began its partnership with SGF in 2017 becoming the company’s exclusive global distributor, and then acquired a 15% equity holding the following year. SGF’s revenue for 2020 is expected to be around $50m, including revenue for products Tate & Lyle currently sells as distribution agent.
Globally, from 2015 to 2019, product launches that contain stevia reportedly grew by compound annual growth rate of 15%.
Nick Hampton, Chief Executive, Tate & Lyle, said: “Sweet Green Fields is an exceptional business with a leading portfolio of stevia solutions, a strong team of stevia experts and an impressive, fully-integrated supply chain. We are delighted to take our relationship to the next level by bringing Sweet Green Fields into the Tate & Lyle family. This acquisition supports our strategy to grow our sweetener solutions portfolio and our purpose of Improving Lives for Generations by helping us to deliver tasty food and beverages with less sugar to consumers worldwide.”
Dean Francis, Chief Executive, Sweet Green Fields, said: “I am proud of the leading stevia business that the Sweet Green Fields team has built. Tate & Lyle, with its global customer reach, innovation focus, and strong sweetener portfolio, is the ideal company to take Sweet Green Fields forward, supporting food and beverage customers across the globe and enabling healthier consumer diets.”
