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Tate & Lyle To Acquire 85% Shareholding In Chaodee Modified Starch

Tate & Lyle Plc (TATE.L,TATYY.PK) said it signed an agreement to acquire an 85% shareholding in Chaodee Modified Starch Co. Ltd. Or CMS, a tapioca modified food starch manufacturer located in Thailand.

Tate & Lyle noted that the acquisition would enable the company to offer a broader range of tapioca-based solutions to meet customers' needs in categories including dairy, bakery, snacks, noodles and soup, sauces and dressings.

Tate & Lyle further said it would operate CMS in partnership with the former owner. Together with its partner, Tate & Lyle has planned to invest in the facility over the next three years to increase significantly capacity for higher functionality starches. The CMS facility would be supplied with substrate by a co-located tapioca starch mill fully owned and operated by Tate & Lyle's partner.

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