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Tate & Lyle acquires Thai tapioca group Chaodee Modified Starch
StockMarketWire.com
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Food and beverage ingredient supplier Tate & Lyle said it had agreed to acquire 85% shareholding of Thai tapioca modified food starch manufacturer Chaodee Modified Starch, for an undisclosed sum.
Tate & Lyle said it would operate Chaodee Modified Starch in partnership with its former owner.
'This investment extends Tate & Lyle's presence in speciality tapioca-based texturants and establishes a dedicated production facility in the main tapioca region of eastern Thailand,' the company said.
'The acquisition will enable Tate & Lyle to offer a broader range of tapioca-based solutions to meet customers' needs for better tasting and clean label foods in categories including dairy, bakery, snacks, noodles and soup, sauces and dressings.'
Story provided by StockMarketWire.com
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