The acquisition of the shares are done at a mutually agreed valuation and has not been disclosed due to reasons of confidentiality, as per the company's press release. However, the transaction will be executed in cash and is expected to be completed by 31 March 2022.

LT Foods Americas Inc. (LTFA) is a material non-listed subsidiary of the company contributing more than 35% stake to the overall revenue through its flagship brand, Royal in North America. The acquisition will strengthen the share of LTFA in the branded Jasmine Rice market. The acquisition of Golden Star is in line with the company's long-term growth strategy to expand its product offerings across geographies.

Golden Star Trading Inc. was established in 1989, headquartered in California, and is a family-owned business selling over 60 SKUs across the USA.

LT Foods' consolidated net profit jumped 11.1% to Rs 76.93 crore on a 21.3% surge in net sales to Rs 1,368.22 crore in Q3 FY22 over Q3 FY21.

LT Foods is a leading player in the specialty rice and rice products business across the globe. The company portfolio includes Daawat - one of India's most consumed Basmati brand, Royal - North America's no. 1 Basmati player and other regional leading brands.