Acquisitions23 May 2025, 10:05 pm
LT Foods Ltd Acquires Remaining 49% Stake in US-based Subsidiary Golden Star Trading, Inc
AI Summary
LT Foods Ltd has announced the acquisition of the remaining 49% equity shares of its step-down subsidiary, Golden Star Trading, Inc., based in California, USA. This acquisition is in line with the company's long-term growth strategy to expand its product offerings across geographies and strengthen its presence in the US Speciality Rice Market. Golden Star Trading, Inc. is a related party of LT Foods Limited and has been primarily selling its products in the US market. The cost of acquisition is US $15 million. The acquisition is expected to be completed within 30 days from the agreement dated May 22, 2025.
Key Highlights
- LT Foods Ltd acquires remaining 49% stake in US-based subsidiary Golden Star Trading, Inc
- Acquisition aligns with LT Foods Ltd's growth strategy to expand product offerings and strengthen US market presence
- Golden Star Trading, Inc is a related party and primary sells its products in the US market
- Cost of acquisition is US $15 million
- Acquisition expected to be completed within 30 days from agreement dated May 22, 2025