date:Jul 22, 2013
Tate Lyle has signed an agreement with Xuzhou Yitong Food Industry (Yitong) to form a Sino-Foreign joint venture (Tate Lyle Howbetter) through the acquisition of a 51% equity interest in Jiangsu Howbetter Food (Howbetter), a leading food systems business in the Peoples Republic of China.
Under the terms of the agreement, Tate Lyle will acquire 22% of its equity interest from Yitong and the balance of 29% from S.B International, a wholly-owned subsidiary of a Europe-based global food business