Ingredion Inc

Ingredion Incorporated has secured a $1.475 billion senior unsecured delayed draw term loan facility to finance its announced acquisition of Tate & Lyle PLC. The facility is divided into two tranches: $500 million (Tranche A-1) and $975 million (Tranche B-1), with maturities of three and five years, respectively, after funding. The proceeds will cover the cash consideration for the acquisition, refinance Tate & Lyle's existing debt, and pay associated fees and costs. The loan agreement includes customary financial covenants, such as a maximum leverage ratio and a minimum interest coverage ratio.

Ingredion Incorporated announced the appointment of Kenneth Escoe to its board of directors, effective July 1. Escoe, currently Executive Vice President of Specialty Products at Illinois Tool Works Inc., brings extensive experience in leading capital-intensive businesses and transforming complex global operations. His background includes significant roles in food and beverage packaging, strategy, and M&A, which are expected to be a tremendous asset to Ingredion's long-term growth strategy. Both the CEO and lead director highlighted his proven leadership and diverse expertise.

Ingredion Inc. announced the election of Kenneth Escoe to its Board of Directors, effective July 1, 2026. The Board has determined that Mr. Escoe qualifies as an independent director under New York Stock Exchange standards. Mr. Escoe, currently Executive Vice President of Specialty Products at Illinois Tool Works Inc., will receive standard non-management director compensation, including an annual cash retainer and restricted stock units.

Ingredion Incorporated announced a recommended all-cash offer to acquire Tate & Lyle PLC for approximately £2.7 billion ($3.6 billion). The deal aims to create a scaled global provider of specialty ingredient solutions, broadening Ingredion's platform and expanding its capabilities. The acquisition is expected to be completed in the second half of 2027, with significant cost synergies anticipated. Tate & Lyle's board unanimously recommends the offer to its shareholders.

Ingredion Incorporated announced a recommended all-cash offer to acquire Tate & Lyle PLC for approximately $5.0 billion (£3.7 billion). The acquisition, offering a 59% premium to Tate & Lyle's share price, aims to create a global leader in specialty ingredient solutions by broadening Ingredion’s platform across texturants, sugar reduction, and fortification. The combined entity is expected to deliver approximately $130 million in annual net cost synergies by the end of 2030 and be adjusted EPS accretive in the first year post-completion.

Ingredion Incorporated announced the acquisition of Benicaros, a patented prebiotic fiber derived from upcycled carrot pomace. This strategic asset deal expands Ingredion's functional ingredients portfolio, offering a versatile solution for immune health in foods, beverages, and supplements. Benicaros is clinically proven to stimulate beneficial gut bacteria at low dosages and aligns with consumer demands for plant-based, clean-label, and sustainable ingredients.

Ingredion Incorporated announced a joint venture with Sanstar Limited and a 9% equity stake in the Indian corn-based specialty products manufacturer. This partnership combines local expertise with global formulation and innovation to serve high-growth pharma and food ingredient verticals in India. The venture aims to establish a local platform for vertically integrated, science-led specialty ingredients and solutions, including a greenfield construction project for diversified specialty products.

Ingredion announced a significant milestone, achieving over 96% sustainably sourced tier 1 priority crops, a substantial increase from 25% five years ago. This progress is detailed in their 2025 sustainability report, "The Power of Us," which outlines advancements towards their 2030 sustainability goals. Additional highlights include diverting 95% of operational waste from landfills, launching a Human Rights Policy, expanding their upcycled ingredients portfolio to over 50 products, and initiating a new sustainable innovation program. The company also collaborated with customers to reduce emissions and improve packaging.

Ingredion Incorporated announced that its board of directors declared a quarterly dividend of $0.82 per share on the Company's common stock. This dividend is scheduled to be paid on July 21, 2026, to shareholders who are on record as of the close of business on July 1, 2026.

Ingredion Incorporated announced a non-binding all-cash offer to acquire Tate & Lyle PLC for 595 pence per share. The offer allows Tate & Lyle to declare and pay two ordinary course dividends totaling up to 20 pence per share. Ingredion believes this potential transaction would provide significant benefits to customers, consumers, employees, and shareholders. Discussions and due diligence are currently underway, with a deadline of June 11, 2026, for Ingredion to announce a firm intention to make an offer or withdraw.