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Home  >>   Daily News  >>   Indonesia News  >> Economy  >> Indofood CBP acquires Club for Rp 2.2 trillion
NEWS UPDATES Asean Affairs   18 November 2013  

Indofood CBP acquires Club for Rp 2.2 trillion

Major food company PT Indofood CBP (ICBP), part of conglomerate Indofood group, announced on Friday that it had acquired the “Club” drinking water trademark for Rp 2.2 trillion (US$190.29 million) as part of its ongoing
effort to expand into the market of packaged drinking water products (AMDK).

According to a statement published on the Indonesia Stock Exchange (IDX), the publicly listed Indofood CBP said that two of its subsidiaries, PT Tirta Makmur Perkasa (TMP) and PT Tirta Sukses Perkasa (TSP), had signed a conditional sale and purchase of assets agreement with 22 firms under the Tirta Bahagia Group, which owned Club.

“The agreement was signed in connection with the sale and purchase of the assets related to the manufacturing, marketing and distribution of the bottled water products, including its packaging. Assets subject to transfer will include land, buildings, machinery, vehicles, furniture and fixture, inventory, as well as trademarks,” Indofood CBP president director and CEO Anthoni Salim said in a statement.

The transaction will be funded using bank loans and the whole process is expected to conclude by the end of the first quarter of 2014, following the release of assets as debt collateral and permit approval.

According to the statement, the Surabaya-based Tirta Bahagia Group currently has 19 factories across Indonesia. Its Club brand is claimed to hold the second biggest share within the domestic AMDK market.

The announcement on Club trademark purchase came a month after Indofood CBP reported the establishment of TMP and TSP.

Both are joint ventures, created by PT Asahi Indofood Beverage Makmur (AIBM), PT Indofood Asahi Sukses Beverage (IASB) and PT Multi Bahagia, which is part of the Tirta Bahagia Group.

AIBM and IASB themselves are joint ventures between Indofood CBP and Japanese Asahi Group Holdings Southeast Asia Pte. Ltd.

Anthoni said that the brand acquisition would accelerate the company’s entry into bottled water, which is the largest category of the non-alcoholic beverage market in Indonesia. It is also expected to increase Indofood CBP’s beverage portfolio, especially after it completed the acquisition of PT Pepsi-Cola Indobeverages in September.

Meanwhile, as previously reported, the instant noodle business division continues to be Indofood CBP’s major growth engine as it contributed to 68 percent of its consolidated sales during the first nine months of this year.

The rest of the sales were made up by dairy with 19 percent, snacks (7 percent), food seasonings (4 percent) as well as nutrition and special foods (2 percent). The sales figure itself grew 15.6 percent year-on-year to Rp 18.88 trillion.

The company’s latest financial report revealed that its total assets amounted to Rp 20.07 trillion as of September 2013. Its liabilities reached Rp 7.18 trillion and its equities stood at Rp 12.89 trillion. On Friday, Indofood CBP’s shares ended at Rp 9,950 apiece, down 2.9 percent from a day before.



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ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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