Tate & Lyle PLC - Judgment handed down in litigation regarding sale of EU Sugars business in 2010

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Tate & Lyle PLC (Tate & Lyle) announces that Judgment was handed down today at the Commercial Court in London in the case brought by American Sugar Refining, Inc. (“ASR”) in which it made a number of claims totalling around £40 million in relation to its acquisition of Tate & Lyle’s EU Sugars business in September 2010 for a consideration of £211 million.

The Court found in favour of ASR on two elements of its claims, whilst rejecting all other aspects. Accordingly, in the Judgment, the Court has awarded damages of £18 million (€24.9 million) to ASR (with interest and costs to be determined in due course).

This claim has been disclosed in Tate & Lyle’s Annual Report since 2012 and the expected announcement of this Judgement was highlighted in the Trading Statement on 29 July 2015.

The impact of the Judgment will be reported as an exceptional item within discontinued operations.


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About Tate & Lyle:  

Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day. 

Through our expertise in sweetening, fortification, and texture, we develop ingredient solutions which reduce sugar, calories, and fat, add fibre and protein, and provide texture and stability in categories including beverages, dairy, bakery, snacks, soups, sauces, and dressings. 

We have more than 3,300 employees working in around 58 locations in 39 countries, serving customers across 121 countries. Science, Solutions, Society is our brand promise and how we will achieve our purpose of Transforming Lives Through the Science of Food. By living our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet. 

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2024, Tate & Lyle revenue from continuing operations totalled £1.65 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on LinkedInX (Twitter)Facebook or YouTube