NEW DELHI, INDIA — LT Foods, by way of its LT Foods Americas Inc. (LTFA) subsidiary, has acquired a 51% stake in Golden Star Trading Inc. Based in Torrance, Calif., Golden Star Trading is a family-owned company that provides greater than 60 stock-keeping items throughout the United States. The company’s signature jasmine rice merchandise are bought below the Golden Star model and are non-GMO, gluten-free and natural.
Financial phrases of the transaction weren’t disclosed.
As a part of the deal, LTFA can have a name possibility to accumulate the remaining 49% curiosity in Golden Star Trading on the finish of three years.
“The acquisition of the Golden Star business is an excellent fit and is consistent with our strategic plan to expand our product offerings across geographies,” mentioned Ashwani Kumar Arora, managing director and chief government officer of LT Foods Ltd. “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.”
Christina Wong, president and promoter for Golden Star Trading Inc., added, “We have nurtured the Golden Star brand for more than 30 years now and were looking for the right partner to associate with our brand. In LTFA we found the perfect strategic partner that has a strong value system in place and has already created a No. 1 basmati Brand Royal for the North American market. We are confident that the team will future nurture and enhance the brand value of Golden Star while remaining faithful to our founding principles.”
LT Foods is a 70-year-old shopper meals company that provides specialty rice and rice meals merchandise internationally. The company’s portfolio contains Daawat, a number one basmati model in India, and Royal, a high promoting basmati model in North America.