Taylor's wholly-owned acquisition of Sweet Green Fields

Tate & Lyle PLC, the world's leading supplier of food and beverage ingredients and solutions, announced a wholly-owned acquisition of Sweet Green Fields (SGF), an industry-leading multinational company in stevia solutions. Through the acquisition of the stevia sweetness solution business, it further strengthens and consolidates its position in the industry and is positioned as the world's leading supplier of sugar reduction and clean label solutions.

The acquisition of SGF will bring Tate & Lyle a rich portfolio of stevia products and a fully integrated supply chain of stevia, including stevia leaf procurement, stevia leaf variety cultivation, mature agricultural projects, and high-efficiency production. , To strengthen Tate & Lyle's industry leading position as a supplier of innovative sweet solutions and the ability to provide global customers with low-sugar, low-calorie food and beverage solutions that meet clean label requirements. The acquisition once again expanded Tate & Lyle's business in the fast-growing Asia-Pacific region, with a complete R&D system and production equipment in Anji, China.

Tate & Lyle began to cooperate with SGF in 2017 and became the exclusive global distributor of SGF's stevia-based ingredients and solution portfolio, and acquired 15% of SGF the following year. After Tate & Lyle acquired the remaining shares of SGF, it simplified the existing partnership, established a highly integrated supply chain and business organization, unified research and development capabilities, and combined advantages to accelerate innovation and optimize production technology. As of December 31, 2020, SGF is expected to achieve revenue of approximately US$50 million, including revenue from products currently sold by Tate & Lyle.

Stevia is one of the fastest-growing low-calorie sweeteners in the world, especially for beverages, dairy products and snacks, because consumer demand for low-sugar, low-calorie foods and beverages continues to grow. Globally, the compound annual growth rate of products containing stevioside on the market from 2015 to 2019 is 15%1. For the year ended March 31, 2020, Tate & Lyle's stevia business revenue increased by 23%, becoming an important contributor to the company's new product revenue growth.

Nick Hampton, CEO of Tate & Lyle, said that Sweet Green Fields is an excellent company with a leading stevia solution portfolio, a strong stevia expert team, and an impressive and highly integrated supply chain . We are very pleased that Sweet Green Fields has joined the Tate & Lyle family, taking the relationship to the next level. This acquisition supports our strategy of developing sweetness solutions, helping us provide global consumers with delicious foods and beverages with lower sugar content, and earnestly fulfilling our mission of "improving lives and benefiting generations".

Dean Francis, CEO of Sweet Green Fields, said that I am proud of the industry leadership that the Sweet Green Fields team has achieved in the stevia business. With its global customer base, focus on innovation, and world-leading sweetness solutions, Tate & Lyle is an ideal company to lead Sweet Green Fields forward, providing support to global food and beverage customers, and making consumers more health.