Primient launches as a leading producer of food and industrial products made from renewable plant-based sources

Primient enters the global food and industrial ingredients market with a strong portfolio of proven products

CHICAGO, April 4, 2022 /PRNewswire-PRWeb/ –Primient Enters the Global Food and Industrial Ingredients Market with a Strong Proven Product Portfolio and Reliable Application Expertise in the Food, Beverage, Paper, Packaging Industries , personal care, clothing and animal nutrition.

Primient was formed following the sale by Tate & Lyle PLC (“Tate & Lyle”) of a majority stake in its Primary Products business in North America and Latin America to KPS Capital Partners, LP (“KPS”). The new private company is majority owned and controlled by KPS, while Tate & Lyle retains a minority stake.

Primient employs more than 1,500 people and operates six industrial sites in North America and Latin America and holds an interest in two joint ventures. Each Primient location is an active community partner, dedicated to supporting local programs and organizations that are essential to the economic health of the region and to improving essential services for all members of the community. The company has a proud heritage in agricultural entrepreneurship founded on the ingenuity of agricultural pioneer and legend, AE Staley.

“Our journey began over 100 years ago when AE Staley founded AE Staley Manufacturing Company in Decatur, Illinois“, President and CEO of Primit Jim Stutelberg noted. “And we are excited to write the next chapters of our story as Primient, which is well positioned to make a positive impact in the industries we serve – for our colleagues, our customers and local communities.”

Michael Psarosco-founder and managing partner of KPS, said: “KPS is delighted to acquire a majority stake in Primient. Over the past few months, KPS and Tate & Lyle have worked closely together to establish Primient as an independent company. to succeed as a leading, independent and focused manufacturer of critical corn-derived ingredients for the food and industrial markets. We look forward to working closely with Primient’s management team to enhance the new company’s assets and operations, accelerate the company’s organic growth initiatives and pursue synergistic acquisitions.”

The Primient portfolio includes expertise and solutions in a wide range of application areas, including:

  • Acidulants – adding lasting taste, stabilization and balance in products like food and beverages

  • Animal nutrition – developing animal feeds with high quality energy and nutrients to ensure animals have the nutrition they need to perform

  • Industrial Starches – starches and adhesives derived from corn that provide superior functionality and support in paper, packaging and construction applications

  • Personal Care Additives – a range of products designed to offer personal care formulators a variety of bio-based options

  • Sweeteners – providing great taste and functionality in all applications, from beverages and dairy to bakery, confectionery, snacks and more

For more information, visit: http://www.primient.com and follow us on LinkedIn.

Information about Primient:
Primient is a leading producer of food and industrial ingredients made from renewable plant sources. We deliver value through thorough technical, business and operational excellence that builds on our long tradition of wet corn milling. Wherever we are in the process, from field to customer, our priorities are to ensure that we produce the safest and highest quality products through practices that meet both our responsibility and our commitments to our employees. and our planet.

Information about KPS Capital Partners, LP
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $13.1 billion assets under management (at December 31, 2021). For nearly three decades, KPS partners have worked exclusively to achieve significant capital appreciation by making controlled equity investments in manufacturing and industrial companies across a wide range of industries, including basic materials, branded consumer goods, health and luxury goods, auto parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to improve businesses, and generates returns on investment by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than to rely primarily on financial leverage. KPS fund portfolio companies currently generate total annual revenues of approximately $15.2 billionoperate 165 manufacturing plants in 26 countries and have approximately 43,000 employees, directly and through joint ventures worldwide (in December 31, 2021, pro forma of recent acquisitions and exits). KPS’s investment strategy and portfolio companies are described in detail at http://www.kpsfund.com.

Information about Tate & Lyle PLC
Tate & Lyle is one of the world’s leading suppliers of food and beverage ingredients and solutions. Backed by 160 years of ingredient innovation, we partner with our customers to provide consumers with healthier, tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day.

Using our expertise in sweetness, mouthfeel and enrichment, we develop solutions that reduce sugar, calories and fat, add fiber and protein, and provide texture and stability in categories such as beverages, dairy products, bakery, soups, sauces and dressings.

We have over 3,000 employees working in approximately 60 locations in 30 countries. Tate & Lyle’s purpose is to transform lives through food science and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, 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. For more information, visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or LinkedIn.

Media Contact

Chris HerbertPrimient, 6144488703, [email protected]

SOURCE Primary

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