Tate & Lyle

Tate & Lyle PLC is a multinational company headquartered in London, specializing in providing high-quality ingredients and solutions for the food, beverage, and other industries worldwide. The company operates through three main segments: Food & Beverage Solutions, Sucralose, and Primary Products. Its offerings include texturants, nutritive sweeteners like high fructose corn syrup and dextrose, health and wellness ingredients, and stabilizers. Additionally, Tate & Lyle supplies industrial starches for various applications, including paper and packaging, as well as acidulants and commodities for animal nutrition. Following the divestiture of its commodity ingredients business in 2022 and its previous exit from the sugar sector, the company has shifted its focus towards specialty ingredients such as sweeteners, starches, and soluble fiber. With a workforce of approximately 2,700 employees, Tate & Lyle operates in over 140 countries, generating a significant portion of its revenue from North America.

David Atkinson

Managing Partner

Jeffrey Sands

Senior Vice President, Strategy and M&A

25 past transactions

Chaodee Modified Starch

Acquisition in 2020
Chaodee Modified Starch is a prominent manufacturer of tapioca-based food starch located in Nakhon Ratchasima, Thailand. The company specializes in producing modified tapioca and cassava starch, both of which are gluten-free and made from non-genetically modified organisms (non-GMO). These starches serve as versatile food alternatives and are utilized across various applications, including sauces, instant and canned soups, dressings, yogurt, and pudding, among others. Chaodee Modified Starch is dedicated to providing high-quality ingredients that cater to the growing demand for healthier food options.

Changing Health

Seed Round in 2018
Changing Health Limited is a company based in Newcastle upon Tyne, United Kingdom, established in 2015. It specializes in a digital platform aimed at helping individuals, particularly those with type 2 diabetes, manage their health through personalized lifestyle modifications in nutrition and exercise. The platform provides users with a variety of resources, including online videos, articles, and interactive activities, designed to educate and empower them to make lasting changes. By integrating health coaching grounded in behavioral psychology with engaging digital content, Changing Health delivers effective support for chronic disease management. This innovative approach allows healthcare organizations to offer scalable and impactful assistance, optimizing their resources to enhance patient outcomes.

Prolupin

Venture Round in 2018
Prolupin GmbH, founded in 2010 and based in Grimmen, Germany, specializes in the development and production of vegetable-based food ingredients derived from lupine seeds. As a spin-off from the Fraunhofer Institute for Process Engineering and Packaging, Prolupin leverages advanced expertise in lupine fractionation and food technology to create a range of products, including lupine protein isolate, ice cream, and various herbal food ingredients. These offerings cater to diverse sectors within the food industry, such as bakery, meat, pasta, and health foods, providing consumers with cholesterol-free, lactose-free, vegan, and gluten-free options. Prolupin's innovative approach is supported by multiple patents from the Fraunhofer Institute, solidifying its competitive position in the vegetable protein market.

Evolve Biosystems

Series B in 2017
Evolve Biosystems, Inc. is a biotechnology company based in Davis, California, focused on developing and marketing probiotic-based biotherapeutics aimed at establishing, restoring, and maintaining a healthy human microbiome. The company specializes in addressing gut dysbiosis across the human life cycle, particularly in newborns during their first six months of life. Evolve Biosystems utilizes a platform that combines specific probiotic bacteria with prebiotic oligosaccharides to create effective delivery systems. Their products include consumer-directed solutions for home use as well as specialized formulations for neonatal intensive care units. In addition to human health, the company also applies its discovery platform to address similar microbiome issues in production animals. Evolve Biosystems was incorporated in 2011.

Nutriati

Series A in 2017
Nutriati, Inc. is a company that specializes in researching, developing, and producing plant-based food products, primarily focusing on gluten-free chickpea protein and chickpea flour. Established in 2013 and headquartered in Henrico, Virginia, Nutriati offers functional plant-based ingredients that meet the growing consumer demand for high-protein and non-allergenic foods. Its products are designed to provide a clean taste profile and the necessary functional performance for various applications, including bread, baked goods, pasta, sauces, snacks, and non-dairy plant-based meat. By supplying these ingredients, Nutriati supports food companies in creating innovative products that cater to health-conscious consumers.

Evolve Biosystems

Series A in 2015
Evolve Biosystems, Inc. is a biotechnology company based in Davis, California, focused on developing and marketing probiotic-based biotherapeutics aimed at establishing, restoring, and maintaining a healthy human microbiome. The company specializes in addressing gut dysbiosis across the human life cycle, particularly in newborns during their first six months of life. Evolve Biosystems utilizes a platform that combines specific probiotic bacteria with prebiotic oligosaccharides to create effective delivery systems. Their products include consumer-directed solutions for home use as well as specialized formulations for neonatal intensive care units. In addition to human health, the company also applies its discovery platform to address similar microbiome issues in production animals. Evolve Biosystems was incorporated in 2011.
Gemacom Tech Indústria e Comércio SA develops, manufactures, and supplies systems and stabilizing mixtures of food ingredients. Gemacom Tech Indústria e Comércio SA provides modified starches, aromas, dyes, milk and whey protein concentrates, sweeteners, thickeners and stabilizers.

Winway Biotechnology Natong Co

Acquisition in 2014
Winway Biotechnology Natong Co. Ltd. manufactures and markets polydextrose specialty fiber. The company is based in Nantong, China.

Jiangsu Howbetter Food Co. Ltd.

Acquisition in 2013
Jiangsu Howbetter Food Co. Ltd. provides stabilizer systems and ingredient blends for the dairy and beverage industries.

Biovelop International

Acquisition in 2013
Biovelop International AB focuses on the development and production of oat beta glucan and other specialty ingredients derived from cereal grains. The company specializes in fractionating oats to create high-quality ingredients suitable for various applications, including food, beverages, nutritional supplements, cosmetics, and personal care products. Among its offerings are PromOat, a soluble fiber from oat bran that aids in lowering cholesterol, regulating blood sugar, and enhancing digestive health, and Avenacare, a liquid oat beta glucan designed for cosmetics and personal care to alleviate skin irritation and improve hair strength. Additionally, Biovelop provides prOATein, a non-dairy, non-GMO oat protein that serves as a protein-rich alternative for enhancing the nutritional value of products such as bars, baked goods, meal replacements, and sports nutrition items.

Allylix

Venture Round in 2012
Allylix, Inc., an early stage biotechnology company, develops terpene products and their derivatives for the flavor and fragrance, food ingredient, pharmaceutical, agricultural, and biofuel markets. Its products comprise nootkatone, which is a grapefruit flavor that is used in fruit juices and citrus flavored sodas. The company also develops sesquiterpenes that are part of aroma chemical segment of the flavor and fragrance market; and production platforms for pharmaceutical, nutraceutical, and agricultural markets. Allylix, Inc. was founded in 2002 and is based in San Diego, California with research and development laboratories in Lexington, Kentucky.

Allylix

Series C in 2010
Allylix, Inc., an early stage biotechnology company, develops terpene products and their derivatives for the flavor and fragrance, food ingredient, pharmaceutical, agricultural, and biofuel markets. Its products comprise nootkatone, which is a grapefruit flavor that is used in fruit juices and citrus flavored sodas. The company also develops sesquiterpenes that are part of aroma chemical segment of the flavor and fragrance market; and production platforms for pharmaceutical, nutraceutical, and agricultural markets. Allylix, Inc. was founded in 2002 and is based in San Diego, California with research and development laboratories in Lexington, Kentucky.

Aquapharm Biodiscovery

Series C in 2010
Aquapharm is an innovative drug discovery company focussed on developing new products founded on the chemical diversity of marine micro-organisms. Their core focus is the development of novel pharmaceutical compounds leading to the development of novel antibiotics, targeting both Gram negative and Gram positive infections. In addition, Aquapharm's development pipeline is also fed by an active discovery portfolio of anti-oxidants, anti-inflammatories and novel biocatalysts.

Allylix

Series C in 2010
Allylix, Inc., an early stage biotechnology company, develops terpene products and their derivatives for the flavor and fragrance, food ingredient, pharmaceutical, agricultural, and biofuel markets. Its products comprise nootkatone, which is a grapefruit flavor that is used in fruit juices and citrus flavored sodas. The company also develops sesquiterpenes that are part of aroma chemical segment of the flavor and fragrance market; and production platforms for pharmaceutical, nutraceutical, and agricultural markets. Allylix, Inc. was founded in 2002 and is based in San Diego, California with research and development laboratories in Lexington, Kentucky.

Fugeia

Venture Round in 2008
Fugeia NV is develops ingredients and nutrition technologies. The company offers arabinoxylan-oligosaccharides (AXOS) ingredient that provides the health benefits of wholegrain wheat as part of the human diet, particularly in the prevention of lifestyle diseases, such as diabetes, obesity, cardiovascular diseases, and cancer; Prebiotic bread technology that allows to increase the level of arabinoxylan-oligosaccharides in bread; and AXOS-enriched beer technology that allows to increase the level of arabinoxylan-oligosaccharides. It develops products and technologies targeted for a range of market segments, including dairy and non-dairy beverages, ready-to-eat cereals, cookies and biscuits, and bread and pastry, as well as dietary supplements and therapeutics.

Allylix

Venture Round in 2007
Allylix, Inc., an early stage biotechnology company, develops terpene products and their derivatives for the flavor and fragrance, food ingredient, pharmaceutical, agricultural, and biofuel markets. Its products comprise nootkatone, which is a grapefruit flavor that is used in fruit juices and citrus flavored sodas. The company also develops sesquiterpenes that are part of aroma chemical segment of the flavor and fragrance market; and production platforms for pharmaceutical, nutraceutical, and agricultural markets. Allylix, Inc. was founded in 2002 and is based in San Diego, California with research and development laboratories in Lexington, Kentucky.

Aquapharm Biodiscovery

Series B in 2007
Aquapharm is an innovative drug discovery company focussed on developing new products founded on the chemical diversity of marine micro-organisms. Their core focus is the development of novel pharmaceutical compounds leading to the development of novel antibiotics, targeting both Gram negative and Gram positive infections. In addition, Aquapharm's development pipeline is also fed by an active discovery portfolio of anti-oxidants, anti-inflammatories and novel biocatalysts.

G. C. Hahn & Co.

Acquisition in 2007
G. C. Hahn & Co. manufactures customized food stabilizer systems for the food industry. G. C. Hahn & Co. products are used in milk, delicatessen, ready meals, sauces and soups, bakery, meat products, beverages, filling aids, fish products, savory snacks, fruit products, food service, and ice cream applications.

Cesalpinia food SpA

Acquisition in 2005
Cesalpinia food SpA manufactues and supplies food additives for food, pharmaceutical, and pet food industries. Cesalpinia food SpA provides gums, thickeners, stabilizers, jellifying agents, blends, and natural flours.

Continental Custom Ingredients

Acquisition in 2005
CCI is a recognised leader in dairy stabilisers and emulsifier systems and works closely with customers to develop ingredient systems for the North American market. CCI also has expertise in beverage flavours and vitamin and mineral fortification.
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