According to government statistics, more than 60 percent of adults in this country are overweight or obese, and a growing number of children are also carrying too many pounds.

The economic cost is estimated at nearly £ 30 billion, the psychological impact can be intense, and even the environment suffers from consumers’ craze for junk food.

It’s no wonder, then, that last week’s National Food Strategy, a government-commissioned review, made no effort, recommending the introduction of taxes on salt and sugar and claiming that meat consumption should be reduced by a third.

For many in the food industry, these proposals will sound the alarm bells. For Tate & Lyle, however, the report will almost certainly be welcome.

With a 150-year heritage in sugar and syrup, Tate & Lyle may not seem like the obvious candidate to benefit from growing fears about increased waistlines. But the group sold off those old businesses in 2010, leaving two main divisions, one focused on processing corn into sweeteners and starch, the other on creating healthy ingredients for the food and beverage industry.

Last week, managing director Nick Hampton took it a step further by announcing the sale of 50% of the corn processing subsidiary for £ 1.2bn in order to develop the fast-growing ingredients business.

US private equity firm KPS is buying the corn division and will run it as a stand-alone business, but Tate & Lyle will benefit as the business grows and there is the prospect of particularly attractive returns if KPS sells the new business.

In the near term, Tate & Lyle shareholders will receive a special dividend of £ 500million, equivalent to around £ 1 per share, and Hampton will focus on developing more and more ingredients that replace sugar, fat. and salt through healthier alternatives. Splenda is probably the best known of these, but the group works with some of the largest food and drink companies in the world, so their products go into everything from iced tea to yogurt and ketchup to the tomato.

The company has already benefited from the growing concerns around the world regarding obesity. Over the next few years, these concerns are expected to deepen, so the outlook for Tate & Lyle in its new form looks bright.

Midas Verdict: Midas recommended Tate & Lyle in 2015, when shares were £ 6.08. Shares are now at £ 7.29, having fallen more than 10% since Hampton first hinted at his breakup plans two months ago. The drop seems unfair. Big investors have been complaining about the corn trade for years. Now Hampton has gotten rid of it as part of a smart deal that allows Tate to maintain an ongoing interest, while also spurring growth within the Trendy Ingredients division. Existing shareholders must keep their shares. New investors might even buy stocks at current levels.

Negotiated on: Main market Teleprinter: TATE Contact: tateandlyle.com or Equiniti on 0371 384 2063