KPS Capital Partners completed the acquisition of the majority stake in the primary products business of Tate & Lyle for $1.7bn.

KPS Capital Partners, an investment firm, completed the acquisition of the majority stake in the primary products business of Tate & Lyle, a British-headquartered, global supplier of food and beverage ingredients to industrial markets, for $1.7bn. The deal includes interests in Almidones Mexicanos, a food products producer, and DuPont Tate & Lyle Bio-Products joint ventures. "KPS is excited to make a controlling investment in the Primary Products Business and is honored to partner with Tate & Lyle. KPS and Tate & Lyle have complete alignment of interests and have cemented a partnership based on shared values such as the safety of our employees and a demonstrated commitment to sustainability," Michael Psaros, KPS Co-Founder and Co-Managing Partner.