Tate & Lyle, originating in Britain 1859 as sugar refinery Henry Tate & Sons, most known for its emblematic Golden Syrup, was acquired by American Sugar Refining, Inc (ASR) in 2010, ending its long association with refined sugar production. The company now announces it has purchased US chickpea ingredients producer Nutriati. The multinational ingredients supplier said it had acquired “substantially all” of Nutriati’s assets.
Established in 2018, Nutriati offers chickpea flour and protein under the Artesa® brand. The products are used by a range of leading plant-based and gluten-free companies, mainly in North America. Prior to the acquisition, Nutriati had signed an agreement making Tate & Lyle its sole distributor. The companies have not revealed the terms of the acquisition.
Funding round
In December 2019, Nutriati raised $12.7 million in a Series C round led by Manna Tree Partners, with participation from private equity firm Open Prairie. The company said it would use the funding to support R&D, increase production and add customers. Nutriati was also featured at last year’s Future Food-Tech Summit, where it showcased how its ingredients could “open up new performance options”.
“Tate & Lyle is committed to breakthrough, innovative and sustainable plant-based solutions,” said Nick Hampton, chief executive officer of Tate & Lyle. “This acquisition complements our existing ingredient portfolio perfectly and supports our purpose pillars of supporting healthy living and caring for our planet. We look forward to fully maximizing the strong functional benefits of these plant-based, chickpea-derived products and offering an even wider range of fortification solutions to our customers.”
