Ingredion Incorporated has acquired Tate & Lyle, according to a source dated September 28, 2026. The deal is completed. The amount paid was not disclosed in the sources.
The source states that Ingredion paid a premium of more than 59% to acquire Tate & Lyle in June, and that the acquisition was made specifically to escape the commodity end of the agribusiness market. The source describes a valuation gap between agribusiness companies, which it says price around 10x EV/EBITDA, and specialty ingredients companies, which it says price closer to 14x, with the best of them near 19x. It puts that gap at well over a billion dollars in valuation.
No further details of the transaction are provided in the source material.