Tate & Lyle's sweetener business eyed up by Japanese rival Ajinomoto

British sugar maker Tate & Lyle’s alternative sweetener product is reportedly being eyed by Japanese aspartame maker Ajinomoto.

Without citing sources, the Sunday Telegraph reported over the weekend that Ajinomoto is considering a bid for the Splenda business.

The report comes after Tate & Lyle last week issued a trading statement noting that the company is still considering how to maximise returns from the Splenda business.

Johnson & Johnson, the owner of the consumer rights to Splenda, in December hired Goldman Sachs to explore a separate sale of its Splenda brand.

The Sunday Telegraph said Tate & Lyle declined to comment while Johnson & Johnson and Ajinomoto did not return calls for comment.