Divestiture • Food

KPS Capital Partners Acquires Primient

On July 12, 2021, private equity firm KPS Capital Partners acquired food company Primient from Tate & Lyle for 1.7B USD

Acquisition Context
  • This is KPS Capital Partners’ 1st transaction in the Food sector.
  • This is KPS Capital Partners’ 6th largest (disclosed) transaction.
  • This is KPS Capital Partners’ 36th transaction in the United States.
  • This is KPS Capital Partners’ 4th transaction in Illinois.

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M&A Deal Summary

Date July 12, 2021
Target Primient
Sector Food
Buyer(s) KPS Capital Partners
Sellers(s) Tate & Lyle
Deal Type Divestiture
Deal Value 1.7B USD

Target Company

Primient

Decatur, Illinois, United States
Primient is a provider of nutritive sweeteners, industrial starches, acidulants and other corn-derived products. The Company serves customers across a diversified set of end-markets including carbonated beverages, confectionery products, packaging applications and animal feed. Primient has employees across three corn wet mills, three acidulant plants and a network of thirteen grain elevators in the United States and Brazil. Primient is based in Decatur, Illinois.
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Buyer Overview 1

Buyer

KPS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 21.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

KPS Capital Partners is a private investment firm that targets special situations including turnarounds, restructurings, bankruptcies, and corporate divestitures. KPS' target investment size is $200 million to $2 billion in businesses with minimum revenues of $250 million. The Firm has specific interest in companies engaged in the manufacturing, transportation, and service industries. KPS will not consider investments in high technology, financial services, telecommunications, broadcast media, real estate and natural resources. The Firm's geographic coverage spans the US, Canada, and Europe. KPS Capital Partners was formed in 1991 and is based in New York, New York.


Deal Context for Buyer #
Overall 46 of 55
Sector: Food 1 of 1
Type: Divestiture 19 of 25
State: Illinois 4 of 5
Country: United States 36 of 41
Year: 2021 5 of 5
Size (of disclosed) 6 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-05 DexKo Global

Novi, Michigan, United States

DexKo Global is a provider of highly engineered running gear technology, chassis assemblies, and related components with over 130 years of trailer and caravan componentry experience. DexKo Global was founded in 2015 and is based in Novi, Michigan.

Sell $3.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Oldcastle BuildingEnvelope

Dallas, Texas, United States

Oldcastle BuildingEnvelope is a manufacturer, fabricator, and distributor of architectural hardware, glass and glazing systems. Oldcastle BuildingEnvelope was founded in 1987 and is based in Dallas, Texas.

Buy $3.5B

Seller Profile 1

SELLER

Tate & Lyle

London, United Kingdom

Category Company
Founded 1903
Sector Food
Employees4,971
Revenue 1.7B GBP (2025)
DESCRIPTION

Tate & Lyle is a provider of distinctive, high-quality ingredients and solutions to the food, beverage, and other industries. Tate & Lyle was founded in 1903 and is based in London, England.


Deal Context for Seller #
Overall 3 of 3
Sector: Food 3 of 3
Type: Divestiture 3 of 3
State: Illinois 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-13 Winway Biotechnology Nantong Co.

Nantong, China

Winway Biotechnology Nantong Co. Ltd (“Winway”), a leading producer of polydextrose speciality fibre in the People’s Republic of China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 CP Kelco

Atlanta, Georgia, United States

CP Kelco is a nature-based ingredient solutions company with experience working with food, beverage, consumer and industrial product manufacturers worldwide. The Company's product lines include citrus fiber, gellan gum, pectin, carrageenan, xanthan gum, diutan gum, fermentation-derived cellulose, refined locust bean gum and microparticulated whey protein concentrate. CP Kelco is based in Atlanta, Georgia.

Buy -