McGuireWoods London LLP today announced that it represented Tate & Lyle PLC, a leading global provider of specialty food ingredients and solutions, listed on the London Stock Exchange and a constituent of the FTSE 100 Index, in its acquisition of Biovelop, a Swedish manufacturer of oat beta glucan.
Operating from a production facility in Kimstad, Sweden, Biovelop produces oat beta glucan under the brand name PromOat™ for use in the food, beverage and supplement markets, and under the brand name Avenacare™ for use in the cosmetics industry. In addition, it produces a range of other oat-based ingredients including PrOATein™ (oat protein), oat dextrin and insoluble oat fibre. Biovelop’s products are manufactured from non-GMO oats sourced from within Sweden using a chemical-free process.
Beta glucan is a soluble fibre which has widely approved health claims, including EFSA, for lowering cholesterol and reducing post prandial glycaemic response.
The McGuireWoods team was led by corporate partners Philip Newhouse and Fredrik Henriksson, who were mainly assisted by senior associate Gabi Olson-Welsh and associate Caroline Cecchini Zonabend. Local Swedish law advice was provided by Advokatfirman Delphi with a team led by partner Clas Romander and senior associate Fredrik Mörner.