LONDON — Tate & Lyle P.L.C. has acquired a majority equity interest in Gemacom Tech, setting the stage for a new joint venture with the Brazilian-based company. The joint venture will be known as Tate & Lyle Gemacom Tech.
Founded in 1990, Gemacom Tech operates two blending facilities and laboratories in the state of Minas Gerais, abouth 125 miles north of Rio de Janeiro. Gemacom Tech provides stabilizer systems and ingredient blends for customers across Brazil and some other South American countries, predominantly in the dairy category.
Under terms of the transaction, Tate & Lyle has an option to acquire the remaining equity interest in Gemacom Tech at a later stage. Gemacom Tech has annual sales of around $30 million.
“The combination of Tate & Lyle’s global blending capabilities and recipe know-how with Gemacom Tech’s strong local expertise and infrastructure provides us with an excellent platform on which to grow our Food Systems business in Brazil and across South America,” said Joan Braca, president of Speciality Food Ingredients at Tate & Lyle.
Henrique de Castro Neves, general manager, Gemacom Tech, who also will be general manager of Tate & Lyle Gemacom Tech, added, “Tate & Lyle and Gemacom Tech are two highly complementary businesses with the same focus on quality and customer service. Together, we will be able to offer our customers a significantly enhanced range of products and technical expertise.”
