Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
KPS Capital to Acquire Controlling Stake in Tate & Lyle’s Primary Products Business in North America and Latin America in $1.7 Billion Deal
- Client News
- July 12, 2021
Paul, Weiss is advising KPS Capital Partners, LP in its acquisition, from Tate & Lyle PLC, of a controlling stake in Tate & Lyle’s Primary Products business in North America and Latin America and its interests in the Almidones Mexicanos S.A. de C.V. and DuPont Tate & Lyle Bio-Products Company, LLC joint ventures (collectively, the “Primary Products Business”). The transaction, expected to close in the first quarter of 2022, pending customary closing conditions and approvals, has an aggregate enterprise value of $1.7 billion. Following completion of the deal, KPS and Tate & Lyle, through affiliates, will each own approximately 50% of the Primary Products Business, with KPS having board of directors and operational control.
The Primary Products Business is a leading provider of nutritive sweeteners, industrial starches, acidulants and other corn-derived products in North America and Brazil.
The Paul, Weiss team includes, among others, corporate partners Angelo Bonvino, Cullen Sinclair, Manuel Frey and Victoria Forrester; tax partners David Mayo, Brian Krause and Jeffrey Samuels, and counsel Alyssa Wolpin; executive compensation counsel Meghan Fox; intellectual property partner Charles Googe; real estate partner Peter Fisch and counsel Allen Wieder and Barry Langman; litigation partners Allan Arffa and Aidan Synnott, and counsel Peter Jaffe, Steven Herzog and Rachel Fiorill; environmental counsel William O’Brien; antitrust counsel Yuni Sobel and Marta Kelly; and international trade counsel Richard Elliott.