NEW DELHI, INDIA — LT Foods, through 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 offers more than 60 stock-keeping units across the United States. The company’s signature jasmine rice products are sold under the Golden Star brand and are non-GMO, gluten-free and organic.
Financial terms of the transaction were not disclosed.
As part of the deal, LTFA will have a call option to acquire the remaining 49% interest in Golden Star Trading at the end 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,” said Ashwani Kumar Arora, managing director and chief executive 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 consumer foods company that offers specialty rice and rice food products across the world. The company’s portfolio includes Daawat, a leading basmati brand in India, and Royal, a top selling basmati brand in North America.