date:Jul 18, 2013
Industry and the balance of 29% from S.B. International, a subsidiary of a European-based global food business. Tate Lyle has an option to acquire Xuzhou Yitong Food Industrys remaining 49% equity interest in Howbetter at a later stage.
The transaction is subject to government approval, which is expected in the fall. The joint venture will be called Tate Lyle Howbetter.
Tate Lyle and Howbetter are two highly complementary businesses with the same absolute focus on quality and customer serv