Tate & Lyle (GB:TATE) has released an update.
Tate & Lyle is set to significantly boost its growth and capabilities in the specialty food and beverage industry through the proposed acquisition of CP Kelco for $1.8 billion, aiming to complete the deal by the end of 2024. This strategic move will deliver a more diverse product portfolio, enhanced innovation, and is expected to be earnings accretive in the second full financial year after completion. The transaction also is projected to achieve targeted cost synergies of at least $50 million within two years following the acquisition.
For further insights into GB:TATE stock, check out TipRanks’ Stock Analysis page.
