Tate & Lyle acquires CP Kelco for $1.8bn, creating a global food and beverage supply company.

Tate & Lyle, a UK-based food and beverage ingredients company, has agreed to acquire US-based specialty ingredients maker CP Kelco for $1.8 billion. The deal aims to create a global food and beverage supply company, combining Tate & Lyle's expertise in sweeteners and mouthfeel with CP Kelco's strengths in pectin and specialty gums. The acquisition is expected to drive stronger revenue growth and improve adjusted core profit margins in the coming years.