Tate & Lyle to sell sugar business

UK firm Tate & Lyle’s historic sugars business was set to fall into US hands today after the firm agreed a £211m (€256m) sale.

UK firm Tate & Lyle’s historic sugars business was set to fall into US hands today after the firm agreed a £211m (€256m) sale.

The group is selling its European sugar refining business, which includes its Golden Syrup factory in London, to American Sugar Refining – and has given the US firm a perpetual worldwide licence to use the famous brand name.

Chief executive Javed Ahmed said: “Sugar refining has enjoyed a long and proud history within Tate & Lyle, but we believe the interests of this business and its employees are now best served by being part of a company for whom sugar refining is core.”

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