The British food and beverage solutions business Tate & Lyle has acquired the ingredient manufacturer CP Kelco for USD 1.8bn (approx. DKK 12.5bn). J.M. Huber Corporation, the owner of CP since 2004, will keep a shareholding of approx. 16%.
CP Kelco is a globally leading manufacturer of nature-based ingredients. The business has roots back to 1934 when the Dane Karl Pedersen established a marmalade business and, in that connection, needed to manufacture pectin for the marmalade. Therefore, he established Københavns Pektinfabrik, later known as Copenhagen Pectin (CP) which merged with the American business Kelco Company in 2000 to become CP Kelco.
Today, CP Kelco is one of the world’s largest manufacturers of pectin based on citrus peels and has three pectin manufacturing facilities in the USA, China and by the headquarters in Lille Skensved on Zealand, Denmark.
Tate & Lyle is a global manufacturer of food ingredients with a 160-year history. Today, the business has more than 3,300 employees working in 58 locations around the world and serving customers across 121 countries. Tate & Lyle is listed on the London Stock Exchange.
Accura advised Tate & Lyle in connection with the transaction in close collaboration with Linklaters.