Global food company LT Foods through its subsidiary LT Foods Americas has acquired a 51% controlling stake in Golden Star Trading Inc. along with its brand Golden Star.
Golden Star Trading is an American company that markets jasmine rice products under the Golden Star brand being all GMO free, gluten free, and natural and/or organic.
With the acquisition, LT foods will be able to expand and lead the Speciality Rice market in North America through its brands Royal Basmati rice and Golden Star Jasmine rice.
“The acquisition of Golden Star business is an excellent fit and is consistent with our strategic plan to expand our offering across geographies. We all are impressed by Golden Star’s brand growth trajectory and the execution, and operational excellence, to produce Consistent Quality products and expand its reach. We are excited about this expansion and we also look forward to integrating the two businesses by leveraging the brand equity of Royal® and Golden Star® as well as its well-established and robust distribution network”.
LT Foods has the option to acquire the remaining 49% stake at the end of three years.
Sources: LT Foods