Tate & Lyle Expands Global Innovation Program

LONDONTate & Lyle PLC is investing up to £30 million over an 8-year period in a new venture capital fund beginning Jan. 1, 2013. The new fund will build on the companys existing venture fund activities and invest in start-ups and expansion-stage companies in both developed and emerging markets in food sciences, enabling technologies inline with Tate & Lyles strategy to grow in specialty food ingredients.

As with Tate & Lyles first venture fund, which was launched in April 2006, the new Fund will be independently led and managed by Simon Barnes and David Atkinson. Barnes said they will be looking to invest in companies based on strong intellectual property and with strong management teams. The independent structure of the new Fund means they can leverage Tate & Lyles core expertise in helping to build its portfolio, while retaining the ability to manage the investments in accordance with sound venture capital principles.

David Atkinson, Tate & Lyle Ventures, said, We are continuing to see a real change in consumer attitudes toward health and nutrition and in particular the growing interest in functional foods. Busy lives, an aging population and rapid urbanization in emerging markets mean that consumers across the world are looking to food to offer lifestyle solutions and bring added benefits, such as fortification and enrichment. New technologies will be instrumental in this convergence as the worlds major food companies increasingly reposition themselves with a focus on innovation and health."