Indofood Enters Poultry Business
22 December 2014 16:02 WIB
TEMPO.CO, Jakarta – Giant food producer PT Indofood Sukses Makmur (INDF) is building a joint venture with Brazilian-based Brasil Foods (BRF) S.A. that deals with poultry business and food management in Indonesia.
Indofood corporate secretary Werianty Setiawan said each company would gain 50 percent shares. “However, it later depends on the fulfilled conditions stated in the agreement,” said Werianty on Monday.
In order to build the joint venture, Indofood and BRF invested around US$200 million in three years. Both companies already signed an MoU on December 19.
Werianty claimed the cooperation accelerated growth of both companies by entering the business of food made of animal protein. “Indofood has wide distribution networks while BRF has the ability in managing animal protein-based food,” said Werianty.
BRF is one of the world’s largest producers of refrigerated animal protein products. BRF is currently the seventh largest food company and one of the main exporters of animal protein worldwide. Werianty said BRF was capable of reaching 110 countries in five continents.
FAIZ NASHRILLAH
