News International Sugar Journal

Tate & Lyle offloads molasses in the UK [Registered]

Tate & Lyle has agreed to sell its molasses business to Belfast grain trader W&R Barnett for £67 million (€78.8m) in cash as it shapes its focus onto speciality products and reduces debt. The deal marks the final disposal of Tate & Lyle’s historic British sugar business, after it sold its European refining interests to American Sugar Refining in the summer for £211m (€252.2m). According to Tate & Lyle, the molasses businesses had external sales of £228m (€268m) and made an operating profit of £13m (€15.3m) in the year to March 31, 2010. It had gross assets of £81m (€95.3m)…

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