Yangon, Myanmar, 19 May 2015 - Capital Diamond Star Group Limited (“CDSG”) and Mitsubishi Corporation (“MC”) have entered into an agreement to form Lluvia Limited (“Lluvia”), a food manufacturing and distribution joint venture company.
CDSG will accept MC’s investment up to 30% in Lluvia, a company that operates the CDSG’s food businesses, including wheat flour and beverages. Lluvia plans to invest over US$200 million in new businesses throughout the food value chain in Myanmar.
CDSG is one of Myanmar’s most respected and prominent conglomerates and is one of the leaders in the Food and FMCG (Fast Moving Consumer Goods) business. It is currently the top supplier of wheat flour and instant coffee beverages in the country, as well as one of the major players in agricultural commodity trading, fertilizer and agrochemicals, food distribution, and retail.
MC is one of the largest trading houses in Japan and has a long history of successfully operating food related businesses, from global raw material sourcing to distribution and retail.
Jointly, CDSG and MC will leverage their experiences and skills to expand CDSG’s existing Food and FMCG related businesses, and in the future, also aim to create new businesses that will contribute to the overall development of the food industry in Myanmar.