Tate & Lyle Upgrades ESG rating to Prime
Tate & Lyle PLC announced that Institutional Shareholder Services (ISS) has upgraded its Environmental, Social and Governance (ESG) rating for Tate & Lyle to Prime, putting the company in the top decile of the Food Products sector. According to ISS, the Prime rating classification qualifies Tate & Lyle for responsible investment. Tate & Lyle’s ESG program includes establishing science-based targets for reducing greenhouse gas emissions, sustainable agriculture programs for corn and stevia, and a commitment to achieve net zero by 2050. It also comprises policies for employees on areas such as equal parental leave and clear targets to measure progress on equity, diversity and inclusion, including achieving gender equality in its top 500 leadership and management roles by 2025.
IFF receives regulatory approval for infant formula
IFF announced it is one of the first ingredients suppliers to achieve regulatory approval (NHC No. 8, 2023) for the use of its 2′-fucosyllactose (2’-FL), human milk oligosaccharide (HMO) in China for infant formula, follow-up formula, and formula for special medical purposes for infants. HMOs—including 2’-FL, 3’-FL and others—have been gradually appearing in the U.S. and European markets for several years, the company reports. Their introduction to infant formula is propelled by numerous studies conducted on human milk, as well as formula containing 2’-FL, which suggest such products offer immune health benefits in infants.
Arla Foods invests in growth in Latin America
Arla Foods Ingredients has invested in a major upgrade to its facility in Argentina, allowing the company to meet growing demand for high-quality whey ingredients, both in Latin America and globally. The improvements to the company’s Porteña site include a new drying tower, which will more than double capacity for production of whey permeate powder. The company also has taken the measures necessary to produce infant-formula-grade proteins in Latin America. Demand for whey permeate, a low-calorie source of sweetness and minerals, is growing globally, in particular in Asia and Latin America.
Impact Capital acquires majority stake in JUNKLESS Foods
Mike Repole's Private Equity group, Impact Capital, has acquired a majority stake in JUNKLESS Foods. Repole and his team will partner with JUNKLESS founders, Ernie Pang and Larry Beyer, to help the better-for-you chewy granola bar become the go-to choice in the category, according to the announcement. “We have poured our heart and soul into getting JUNKLESS to where it is today, but we knew we needed something more to take us to the next level,” said Pang. “We could not have asked for better partners in Mike and the Impact Team, who share our passion for JUNKLESS and see the incredible potential of our brand, and know how to get us there.
