Louis Dreyfus Co. (LDC) said its profits rebounded last year, supported by robust food demand and rising prices during the COVID-19 pandemic, in a further financial boost to the family-owned firm after a deal to bring in a new shareholder.
Reuters reports the 170-year-old global merchant, controlled by Margarita Louis-Dreyfus, ended a long hunt for an investor in November by agreeing to sell a 45% stake to Abu Dhabi investment firm ADQ.
LDC’s net income rose 66% to $382 million in 2020, while earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations increased 58% to $1.324 billion.
