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A sweet move?
Date: 02/07/2010
It seems Americans are getting a taste for swallowing up British companies. First, amid much hue and cry, they got their claws on Cadbury and now, less than a year later, it’s Tate & Lyle’s 132-year-old sugar business.Obviously, there are notable parallels as, in both instances, an American company has bought an iconic British brand. Yet while there may well be much brow-furrowing among those concerned at the loss of the world’s oldest brand, Golden Syrup, from British ownership, and wary of job protection promises, it’s worth noting that Tate & Lyle has not been subject to a hostile takeover. Far from it. In fact, making a decision to focus on the more profitable speciality food market – currently thought to be worth around £20 billion (€24bn) – may well turn out be the sugar company’s sweetest move ever…
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