British Firm Acquires Remainder of Sugar Group

British sugar refiner Tate & Lyle PLC said Thursday that it agreed to acquire the parts of Canadian sugar group Redpath Industries Ltd. that it didn’t already own for about $240 million.

Tate & Lyle said it would purchase the Canadian government’s 49.9% holding in Redpath.

Tate & Lyle said it plans to find buyers for Redpath’s non-sugar businesses, including automotive, industrial and consumer products.

Redpath jointly owns Tate & Lyle’s U.S. sugar refiners Western Sugar and Amstar Sugar.