Following the shocking revelations that the Alesie Rice Group was shutting down operations after being in business for 25 years in Guyana, information has now surfaced that the company will be selling it operations to Golden Grains Investment.
Both companies in a joint press statement outlined that on Friday they reached a purchase agreement that allows Golden Grain Investments to acquire all of the Alesie Group’s assets in Ruimzeight, Vreed-en-Hoop, Wakenaam and Corriverton.
Golden Grains Investment has been established in Dubai, UAE since 2004 and is an importer/exporter of grain, food and non-food products for the food service industry.
According to the company, they are a leading distributor for major food lines from countries worldwide. “With more than 450 major clients worldwide ranging from top hospitality and supermarket chains, Golden Grains is poised for growth through its ability to deliver tradition, quality and taste.”
Inews understands that the deal was unanimously approved by the Alesie Board that considers the proposed transaction to be in line with the interests of the company, its shareholders and its employees.
“We are delighted with this rapprochement, which allows us to meet our commitments to our farmers and partners in Guyana. Alesie has enjoyed 25 years of success in Guyana and we look forward to continuing our journey under this acquisition agreement” said Dr. Turhane Doerga, Chairman of Alesie’s Board.
According to the CEO of Golden Grains, the acquisition of Alesie will allow Golden Grains Investment to become a major player of the rice industry in Guyana and around the world while helping to expand and fulfil our vision and commitment to quality. “The Alesie Group has done an amazing job over the years of building a culture of success in the rice industry locally and internationally and we intend to continue to promote the brand alongside the Golden Grains portfolio of products. This transaction will enable Golden Grains Investment to benefit from Alesie’s technical, industrial, commercial and financial experience.”
The Board of Alesie has appointed NexGen Global Marketing Services, the company that brokered the deal, as its authorised agent to handle the transition and ensure that all outstanding liabilities of the Group to farmers and other creditors are fully satisfied in a timely basis.
When the news broke of Alesie’s exodus from the market, concerns were raised as to the future of the rice industry, its stakeholders, the West Coast rice farmers and the 300 plus workers employed by the company.
Chairman of Alesie’s Board, Doerga was quoted in the media as saying that their decision to close up shop was premised on, among other things, ‘the worrying lack of policies by the government to address the issues that are affecting the industry’.
The Minister of Agriculture also came under flack for his management of the agricultural sector, as well as the previous administration.
Doerga was adamant that strategies are needed to guide the billion-dollar industry and the persons involved in the selling of rice and paddy.