Tate & Lyle invests in food ingredient group
Tate & Lyle has signed an agreement to acquire an 80% holding in German specialty food ingredients group G C Hahn & Co.
The $189 million transaction is subject to German anti-trust approval and is expected to be completed by 31 May 2007.
Hahn is a leader in dairy stabiliser systems and works with customers to develop customised ingredient solutions. The company's headquarters is located in L<ü>beck, Germany. It also has production operations in the UK, USA and Australia, and sales offices in 22 countries.
The former owner will retain 20% of Hahn. The agreement includes options which provide for Tate & Lyle to acquire the outstanding shares in due course.
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