Provider of food and beverage solutions, Tate & Lyle, has announced that it has completed the acquisition of an 85% shareholding in Chaodee Modified Starch Co., Ltd.
The business has been described as a “well-established” tapioca modified food starch manufacturer, which is located in Thailand.
The signing of a conditional agreement for the acquisition was announced in October last year.
Nick Hampton, Chief Executive of Tate & Lyle, said: “We are delighted to welcome our new colleagues to Tate & Lyle. This acquisition extends our presence in speciality tapioca-based texturants and allows us to offer a broader range of tapioca-based solutions to meet customers’ needs for better tasting and clean label foods. It also establishes a dedicated production facility in the main tapioca area of eastern Thailand and expands our manufacturing footprint in the higher growth Asia Pacific region.”