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The Competition and Markets Authority (CMA) has greenlighted Tate & Lyle Sugars’ acquisition of Tereos UK and Ireland, along with its packing and distribution facility located in Normanton, West Yorkshire.
Tereos UK and Ireland specializes in the packing and distribution of sugar for retail and wholesale markets, operating under the “Whitworths Sugar” brand and various private label products.
As the foremost supplier of cane sugar in Europe, Tate & Lyle Sugars relies on imported raw materials for processing at its refineries in London.
In related news: Campaign start dates for sugar beet announced for 2024-25
This acquisition marks a significant consolidation within the sugar industry, leaving British Sugar as the primary competitor to Tate & Lyle in the UK market.
Initially, the CMA expressed concerns about the potential for this merger to significantly lessen competition in the UK. However, after a thorough investigation, they determined that the merger would not lead to a substantial reduction in market competition and permitted it to proceed.
Richard Feasey, chairman of the independent inquiry group overseeing the Phase 2 investigation, stated, “After evaluating a diverse array of evidence, including comprehensive financial data regarding Tereos’ UK retail operations and their efforts to enhance performance, we have concluded that clearing this deal is in the best interest.”
A representative from Tate & Lyle Sugars commented, “We are pleased with the CMA’s decision to approve our acquisition. This is positive news for both companies, and we eagerly anticipate welcoming our new team members.”
SOURCE
Maria Sanchez completed her Bachelor’s degree in Plant Sciences from the University of California, Davis, in the USA. Her studies focused on plant genetics and biotechnology, with an emphasis on developing disease-resistant crop varieties. Maria has contributed to several research projects aimed at improving crop resilience to climate change and is now pursuing her Master’s degree in Plant Breeding.
