Ingredion agrees to acquire Tate & Lyle in major global food ingredients deal
Ingredion‘s proposed acquisition of Tate & Lyle will create a US$9.9 billion ingredients powerhouse focused on sugar reduction, texture solutions, fortification, and food innovation.
UK – Ingredion Incorporated, a leading global provider of ingredient solutions to the food and beverage and industrial segments, has announced a recommended all-cash offer to acquire Tate & Lyle for £2.7 billion (US$3.6B).
Under the terms of the acquisition, Tate & Lyle shareholders will be entitled to receive 595 pence in cash for each share held, with total cash consideration amounting to approximately £2.7 billion (around US$3.7 billion).
The offer price represents an approximate 59% premium to Tate & Lyle’s closing share price as of 13 May 2026.
The transaction is intended to be implemented by way of a court-sanctioned scheme of arrangement under UK company law, with completion targeted for the second half of 2027, subject to regulatory, shareholder, and court approvals.
Tate & Lyle’s board has unanimously recommended the offer, with the proposed merger set to create a scaled global ingredient solutions provider spanning texture, sugar reduction, mouthfeel, sweetening, and fortification.
The combined entity, drawing on both companies’ complementary capabilities across multiple ingredient categories and geographies, is expected to become one of the world’s most significant speciality ingredients businesses.
Jim Zallie, Chairman, President, and Chief Executive Officer of Ingredion, described the rationale in broad strategic terms.
“Combining Ingredion and Tate & Lyle’s complementary portfolios establishes the innovation expertise and geographic reach that will help create the future of food. The combined business will be better positioned to serve customers’ needs for the development of great-tasting, healthier, and affordable food products that consumers demand,” he said.
With Ingredion’s market capitalization of US$6.51 billion, the US$3.7 billion deal would create an ingredient manufacturing powerhouse valued at over US$10 billion.
The acquisition follows Ingredion’s broader consolidation strategy, which has seen the company invest heavily in specialty and healthful ingredient platforms in recent years, including the acquisition of CP Kelco in November 2024 to strengthen its position in pectin and specialty gums.
For the year ended 31 March 2026, Tate & Lyle delivered a 3% decline in revenue and a 3% decline in pro forma adjusted EBITDA, in line with expectations set out in October 2025.
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