Britain's Tate & Lyle has agreed to a £2.7 billion ($3.60 billion) offer from U.S. rival Ingredion , the companies said on Monday, creating a food and beverage ingredients major.
The British ingredients company reported lower profit for what it called a disappointing fiscal year.
Ingredion Incorporated (INGR) remains a Buy, supported by strong financials and robust cash generation despite recent operational setbacks and macro pressures. Q1 results were weak due to Argo facility issues, leading to reduced 2026 guidance and highlighting operational and cost risks. Potential acquisition of Tate & Lyle could transform INGR, expanding geographic reach significantly and helping to diversify into higher-growth segments.
The proposed offer value is a 64% premium to the London-listed food-and-beverage ingredient company's closing share price Wednesday.
Ingredion NYSE: INGR reported a weaker-than-expected first quarter of 2026, as operational problems at its Argo facility weighed heavily on results in its Food & Industrial Ingredients U.S. Canada segment, while its Texture & Healthful Solutions business continued to post volume growth.
Ingredion Incorporated (INGR) Q1 2026 Earnings Call Transcript
Ingredion (INGR) came out with quarterly earnings of $2.34 per share, missing the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.97 per share a year ago.
Ingredion (INGR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Ingredion Incorporated (INGR) Presents at Consumer Analyst Group of New York Conference 2026 Prepared Remarks Transcript
Ingredion is reiterated as a Buy, supported by strong financial health and robust free cash flow exceeding guidance. INGR advances strategic pillars—protein and clean label ingredients—while completing its Cost2Compete program, achieving $59M in run-rate savings. 2026 guidance calls for low- to mid-single-digit net sales growth, EPS of $11–$11.80, and free cash flow midpoint of $460M.
Ingredion Incorporated delivered resilient profitability and has a strong balance sheet despite flat sales and US/Canada production setbacks. INGR guidance for 2024 is cautious: EPS of $11.00-$11.80, low-to-mid single-digit sales growth, and modest operating income improvement. Operational efficiency initiatives and R&D focus on Clean Labels and plant-based ingredients position INGR for future margin expansion.
Ingredion (INGR) came out with quarterly earnings of $2.53 per share, missing the Zacks Consensus Estimate of $2.59 per share. This compares to earnings of $2.63 per share a year ago.