LT Foods Americas Inc. (LTFA) announced it has acquired 51 per cent stake in Golden Star Trading Inc.
The acquisition of Golden Star is in line with the company’s long term growth strategy to expand its product offerings across geographies. LTFA, through this acquisition will be establishing a leadership position in Jasmine Rice via Golden Star brand to go along with its #1 position in Basmati via Royal brand, according to the company’s statement.
Commenting on the development, Ashwani Kumar Arora, MD & CEO, LT Foods, said, “The acquisition of Golden Star business is an excellent fit and is consistent with our strategic plan to expand our product offerings across geographies. We all are impressed by Golden Star’s brand growth trajectory and the execution, and operational excellence, to produce excellent 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.”
Commenting on this occasion, President LTFA, Abhinav Arora, said, “We are excited about this opportunity to work closely with Golden Star to create long term value for both customer and consumer. We are confident we found the right partner in Golden Star Trading, being a family owned and operated business as well as their ‘customer first’ focus all of which align with our core values. This partnership enables LTFA to strategically grow our market share of specialty grains in North America.”
