Iconic British Company Founded in 1921 Sold to US Competitor in Landmark £2.7bn Deal

One of Britain's most established food ingredients companies is set to enter a new chapter after agreeing to a £2.7 billion takeover by a major American rival.

Tate & Lyle, the London-listed sweetener and ingredients manufacturer founded in 1921, has accepted an acquisition offer from Illinois-based Ingredion Incorporated. Under the terms of the agreement, shareholders will receive up to 615 pence per share, including a cash payment of 595 pence alongside dividend payments.

The transaction values Tate & Lyle at approximately £2.7 billion, rising to around £3.7 billion when debt is included. The agreement follows a series of previous approaches made by Ingredion as it sought to strengthen its position in the global ingredients market.

The deal comes after a challenging period for Tate & Lyle. Over the past year, the company has faced pressure on its share price amid concerns over earnings performance. Last year, the group warned investors about weaker full-year profits and later reported a decline in first-half earnings.

Despite those challenges, company leaders believe the acquisition will create new opportunities for growth and innovation. Chairman David Hearn said the combination with Ingredion would create a larger business with greater scale, stronger investment capabilities, and enhanced support for customers around the world.

He added that the board believes the offer provides an attractive opportunity for shareholders while positioning the business for long-term success under new ownership.

The acquisition marks a significant moment in the history of Tate & Lyle, a company that has been part of British industry for more than a century. If approved, the takeover will bring one of the UK's best-known food ingredients firms under American ownership as consolidation continues across the global food and nutrition sector.