SIG and Nutrition from Water (NXW) have announced a global partnership to develop integrated product concepts that combine algae-based protein beverages with advanced aseptic packaging. The initiative is designed to help close the nutrition gap in rapidly growing economies, delivering protein-rich nutrition to communities where it is needed most.
The collaboration started at MISTA, the San Francisco-based global food innovation platform that SIG joined in 2023. MISTA unites leading companies in food, ingredients, and food technology to accelerate the transformation of the global food system. With the world population expected to reach 10 billion by 2050, according to the United Nations, the need for healthy, accessible diets that also protect natural resources is more urgent than ever.
SIG and NXW are focusing their efforts on fast-growing, underserved economies where nutrient deficiencies are most pronounced. By bringing together NXW’s innovations in algae-derived proteins with SIG’s expertise in aseptic carton and pouch packaging, the partnership aims to provide food and beverage products with essential water algae proteins and micronutrients in aseptic packaging solutions. Product positioning can range from healthy basic nutrition for consumers with low incomes, who are most affected by malnutrition, to added-value products enriched with an extra portion of healthy protein
NXW’s bioprocessing technology transforms microalgae strains into high-performing ingredients. Their Marine Whey™ product range includes protein-rich, fiber-dense powders that are highly digestible and non-GMO, making them ideal for addressing malnutrition and macronutrient gaps. These ingredients can replace or supplement animal and plant-based proteins, expanding options for food and beverage manufacturers worldwide.
Tate & Lyle announces that it has entered into an agreement to acquire the entire issued share capital of CP Kelco U.S.; CP Kelco China; and CP Kelco ApS together with each of their respective subsidiaries (together ‘CP Kelco’), a leading provider of pectin, speciality gums and other nature-based ingredients, from J.M. Huber Corporation for a total implied consideration of US$1.8 billion (approximately £1.4 billion)1, on a cash-free, debt-free basis (the ‘Proposed Transaction’).
Over the last six years, Tate & Lyle has been executing a major strategic transformation to become a growth-focused speciality food and beverage solutions business aligned to attractive structural and growing consumer trends for healthier, tastier and more sustainable food and drink. This transformation has included a much sharper focus on customers and key categories, increased investment in innovation and solution selling capabilities, and the significant strengthening of its Sweetening, Mouthfeel and Fortification platforms through new product development and acquisitions. This transformation was completed with the announcement on 23 May 2024 of the proposed sale of Tate & Lyle’s remaining interest in Primary Products Investments LLC (‘Primient’).
The Proposed Transaction significantly accelerates Tate & Lyle’s strategy to be a leading and differentiated speciality food and beverage solutions business, and to become the solutions partner of choice for customers. It is expected to drive stronger revenue growth and significant adjusted EBITDA margin improvement over the next few years. It is also expected to be accretive to adjusted earnings per share, including cost synergies only, in the second full financial year following completion, and strongly accretive thereafter.
For further information please visit: www.tateandlyle.com
1Based on GBP: USD foreign exchange rate of £1:$1.2723, as at 5pm BST on 19 June 2024.
