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Indofood units form new joint venture
Publicly listed food company PT Indofood CBP (ICBP) announced on Wednesday that two of its business units â PT Indofood Asahi Sukses Beverage (IASB) and PT Asahi Indofood Beverage Makmur (AIBM) â had signed an agreement with PT Multi Bahagia to set up two joint ventures to produce and distribute packaged drinking water
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ublicly listed food company PT Indofood CBP (ICBP)announced on Wednesday that two of its business units ' PT Indofood AsahiSukses Beverage (IASB) and PT Asahi Indofood Beverage Makmur (AIBM) ' hadsigned an agreement with PT Multi Bahagia to set up two joint ventures to produce and distributepackaged drinking water.
In a press statement, Indofood CBP said that two joint ventures PT Tirta Sukses Perkasa and PT Tirta Makmur Perkasa, which would be responsible for the production and distribution of the water products, respectively.
Tirta Sukses Perkasa is 80 percent owned by AIMB and 20 percent by Multi Bahagia while Tirta Makmur Perkasa is 80 percent owned by IASB and 20 percent by Multi Bahagia.
'The business alliance will help [Indofood CBP] penetrate the packaged drinking water market as it is the biggest segment in the non-alcohol beverage industry, accounting for more than 30 percent of the total non-alcoholic beverage market across Indonesia,' Indofood CBP wrote.
IASB and AIBM are the joint venture firms of Indofood CBP and Japanese Asahi Group Holdings Southeast Asia Pte. Ltd.
