Established in 1960, the Margarine, Fats and Oil Company Ltd started with the production of “Gelebek” margarine in 1963. In the years following, she expanded her product line by adding Golden Brand margarine, Marigold Butter, Baker’s Choice industrial margarines, Bake `n Fry Shortening and Golden Brand Slim Low Fat margarine.
During the late seventies, modernization was inevitable and the most necessary machineries were replaced. Like most local manufacturers, the company experienced serious difficulties during the eighties and early nineties due to a shortage of foreign exchange and price controls imposed by the government. The supply of raw materials was frequently interrupted which resulted in numerous days without production. The necessary investments for the replacement of machinery were postponed, since any prospect for improvement of the Suriname economy was lacking at the time.
In 1996, all damages done throughout the years became apparent when Suriname became a member of the Caricom. Outdated production technology and procedures led to inconsistent quality and inferior packaging compared to Caricom products. Marketing was at that time non-existent and sales dropped from 1,007 tons in 1994 to 663 tons in 2000. A rights issue of shares was held in 2001 to finance investments in modern machinery, laboratory equipment, and a new cold storage. The modernization was completed in 2004.
The first export to Curacao was shipped in 2003 and that same year the company became HACCP (Hazard Analysis Critical Control Points) certified. In addition to Curacao, exports started to Trinidad in 2004, in the same year sales reached 1.194 tons of which 166 tons were exported.

The Margarine, Fats and Oil Company is located on the outskirts of the capital city, Paramaribo.