Morrison & Foerster is advising LSE-listed Tate & Lyle PLC (“Tate & Lyle”), a leading global provider of food and beverage ingredients and solutions, in connection with its agreement to acquire Quantum Hi-Tech (Guangdong) Biological Co., Ltd (“Quantum”), a leading prebiotic dietary fiber business in China, from ChemPartner Pharmatech Co., Ltd (“ChemPartner”).
Quantum engages in the research, development, production, and sale of fructo-oligosaccharides (FOS) and galacto-oligosaccharides (GOS). Together, FOS and GOS represent around 25% of the global dietary fiber market, which is forecast to grow at around 6% per annum. The acquisition strengthens Tate & Lyle’s position as a leading global player in dietary fibers and significantly expands its presence in China and Asia.
The transaction was announced on March 31, 2022 and is subject to approval by the shareholders of ChemPartner, a public company listed in China, of which Quantum is a wholly owned subsidiary.
Morrison & Foerster previously advised Tate & Lyle on its acquisition of Sweet Green Fields, a leading global stevia solutions business. The firm is widely recognized as one of the world’s leading law firms for food, agriculture, and ag-tech M&A transactions, including being ‘Top Ranked’ in the space by legal directory Chambers.
The MoFo team advising Tate & Lyle was led by London M&A partner Andrew Boyd and Shanghai partner Chuan Sun, together with London associates Emma Bosworth, James Dabell, and Bowen Wang, Beijing associates Richard Lijian Ji and Xuezi Dan, Hong Kong associates Zooey Chen, Tyler Xiu, and Katrina Tsoi, and Shanghai associate Letian Ge.