T&L plays sugar daddy to ingredients firms
Tate & Lyle (T&L) is to launch a venture capital fund to help new and expanding companies develop novel ingredients.
The £25m fund, to be set up over the next five years, will be staffed by financial specialists who will identify suitable products and partners for investments by the ingredients giant.
T&L has already taken a 15% stake in Alleggra, a new UK venture co-funded by Unilever, which will launch a soya-based liquid and powdered egg substitute at this month's IFE exhibition (Food Manufacture February, p20). In January, it topped up its 20% stake in South African ingredients company Dolcré, buying out the other investors for £1.4m.
T&L's planning and business development director Mark Robinson said: "Tate & Lyle Ventures will be an important vehicle for the group to continue to invest in innovative products and new technologies."
He said target companies would benefit from T&L's global business knowledge and expertise. "We want to work together as real partners to help them succeed."
T&L has expanded its core commodity sugar business to become a big manufacturer of cereal sweeteners, starches and industrial ingredients.
Its sugar substitute Sucralose, developed over 20 years with a US partner, was last month cleared for sale in Europe.
