Golden Agri Resources : Move to New Location Marks Renewed Ambition for Integrated Agribusiness in Europe

• Office move will support growing headcount aimed at expansion in food, feed, industry and energy sectors managed from Europe
• New location is independently certified for sustainable building design

Utrecht, 4 May 2023: Golden Agri-Resources (GAR), one of the world's largest seed-to-shelf agribusinesses, has completed its relocation to new premises in Utrecht, the Netherlands, to support growing headcount and commercial aspirations for its European operations. Europe is the world's primary consumer of sustainable palm oil, accounting for 45% of total global use of certified sustainable palm oil.

GAR's new office location, Central Park Utrecht, has been selected with sustainability in mind, in line with the agribusiness' commitment to advancing sustainability in the palm oil sector. Central Park Utrecht has been awarded a BREEAM Excellent certificate for sustainable design, with positive assessments for nine categories including energy, transport, water, management, materials and health. BREEAM is regarded as the world's leading science-based suite of validation and certification systems for sustainability in the built environment.

The office, which houses more than 40 employees, is the largest outpost in the company's Europe and Latin America (LatAm) network. GAR's European operations have expanded from 2 employees in 2015 to upwards of 80 staff from over 20 nationalities today, with plans to add further headcount to deliver on growing aspirations supporting customers in the food, feed, industry and energy spaces.

Maarten van der Hoeven, Head of Europe & LatAm at GAR said: "Our European business is built on long term relationships that prioritise understanding and addressing our customers' needs to offer consistent, reliable and sustainable offerings across a range of sectors. Our dedicated team have built a structural supply chain for our key customers, always working to add value where possible. This move gives us greater scope to build capacity and continue pushing for quality and sustainability above all else for our customers and partners."

GAR has entities in the Netherlands, Spain, Colombia and Brazil, and representative offices in Bulgaria and Romania, supported by an extensive distribution and logistics network encompassing shipping, freight, and warehousing facilities. The company manages dedicated storage terminals and warehouses in Italy, Spain, the Netherlands, Bulgaria, Romania and Colombia, with plans for further expansion.

GAR also operates a sugar distribution and trading business with a global reach, including origination of sugar from LatAm through the company's Brazil office. Elsewhere in the Americas, GAR established operations in Colombia focused on sourcing palm oil in 2021, followed by the formation of storage and distribution channels for its oleochemicals business in the United States in 2022.

This follows the launch of GAR's GoNutri animal feed brand in key European markets Spain, Italy, and the Netherlands in 2021.

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About Golden Agri-Resources Ltd (GAR)

GAR is a leading fully-integrated agribusiness company. In Indonesia, it manages oil palm plantation area of 537,697 hectares (including plasma smallholders) as of 31 December 2022. It has integrated operations focused on the technology-driven production and distribution of an extensive portfolio of palm-based products throughout its established international marketing network.

Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$2.3 billion as of 31 December 2022. Flambo International Limited, an investment company, is GAR's largest shareholder, with a 50.56 percent stake. In addition, GAR has several subsidiaries, including PT SMART Tbk, which was listed on the Indonesia Stock Exchange in 1992.

As an integrated agribusiness, GAR delivers an efficient end-to-end supply chain, from responsible production to global delivery. In Indonesia, its primary activities include cultivating and harvesting oil palm trees; the processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products globally. GAR's products are delivered to a diversified customer base in over 100 countries through its global distribution network with shipping and logistics capabilities, destination marketing, on-shore refining and ex-tank operations. GAR also has complementary businesses such as soybean-based products in China, sunflower-based products in India, and sugar businesses.

For media enquiries, please contact:
Andrew Compton

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