In 2022, US investor KPS Capital Partners acquired a controlling interest in Tate & Lyle’s Primary Products business in North America. This led to the establishment of the independent plant-based ingredient business Primient.
Now, Primient has announced that KPS will acquire the remainder of the company, bringing it into sole ownership. The transaction is expected to be completed by the end of July.
Primient previously announced that it would make an “unprecedented” $700 million in capital investments over the next five years, with the aim of modernizing the business’ manufacturing footprint and encouraging growth.
“Primient’s performance has exceeded our expectations, and this second investment represents KPS’ continued commitment to Primient, its customers, and employees,” said Michael Psaros, Co-Founder and Co-Managing Partner of KPS. “Under our ownership, Primient will continue to modernize its operations, supporting growth initiatives and industry-leading sustainability practices. We intend to make further strategic investments to strengthen Primient’s role within the corn wet milling industry and the broader bioeconomy.”
“Belief and commitment”
Primient has over 100 years of experience in the food and ingredients markets, originating as the A.E. Staley Manufacturing Company before becoming part of Tate & Lyle. The business claims to provide the “highest quality plant-based solutions and services”, predominantly offering corn-based products such as starches, sweeteners, and personal care additives.
“We are proud of the company we’ve built under KPS’ ownership in the past two years,” said Jim Stutelberg, Chief Executive Officer of Primient. “Their belief and commitment have been instrumental in setting Primient up for success from day one. This investment underscores KPS’ confidence in the strength of our business. We are the most committed, most reliable, and most sustainable supplier in our industry, and will be for decades to come.”
