LONDONTate & Lyle PLC has signed an agreement to acquire the business and assets of Winway Biotechnology Nantong Co. Ltd, a leading producer of polydextrose specialty fiber in the China. The deal is expected to be complete by the end of 2014.
Winway has a manufacturing facility and laboratories in Nantong, Jiangsu Province, where it produces a range of polydextrose products which are sold to customers in China and worldwide. Tate & Lyle will invest in the Nantong facility over the next two years to expand capacity and enhance its specialty fiber product offering. Nantong will become Tate & Lyle’s third polydextrose facility globally, in addition to existing lines in the Netherlands and the United States.
Polydextrose is one of Tate & Lyle’s growing range of specialty fibers that includes PROMITOR® Soluble Corn Fibre, PROMITOR® Soluble Gluco Fibre and PromOat® Beta Glucan.
Commenting on the deal, Olivier Rigaud, president, Specialty Food Ingredients, Tate & Lyle, said: “The acquisition of Winway provides us with an excellent platform from which to accelerate the growth of our specialty fibers business in Asia Pacific, and to expand our health and wellness offering globally."