Tate & Lyle acquire stevia sweetener specialist Sweet Green Fields
The former sugar refiner and now food and beverage ingredient supplier hopes the move will improve its offering of low-sugar products around the world.
Sweet Green Fields is a specialist in stevia, a natural sweetener growing in popularity.
The food and beverage ingredient supplier says the acquisition of SGF brings a broad portfolio of stevia products and a fully integrated stevia supply chain to Tate & Lyle, including leaf sourcing, leaf varietal development, established agricultural programmes and cost-efficient manufacturing.
The acquisition will, according to Tate & Lyle, enhance its capabilities to create foods and beverages that are lower in sugar and calories and with cleaner labels for customers across the world. The acquisition also extends Tate & Lyle’s presence in the Asia Pacific region with dedicated stevia production and research and development facilities located in Anji, China.
Stevia is one of the fastest growing low-calorie sweeteners used globally, particularly in beverages, dairy and snacks, as demand from consumers continues to grow for foods and beverages that are lower in sugar and calories. Globally, from 2015 to 2019, product launches that contain stevia grew by a compound annual growth rate of 15 percent.
“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,” said Nick Hampton, Chief Executive, Tate & Lyle. “We are delighted to take our relationship to the next level by bringing SGF 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, was equally pleased with the takeover: “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 SGF forward, supporting food and beverage customers across the globe and enabling healthier consumer diets.”