JAKARTA, Indonesia--(BUSINESS WIRE)--
Leading global investment firm KKR today announced that KKR has acquired
an approximate 12.64% stake in PT Nippon Indosari Corpindo Tbk.
("Indosari" or the "Company") (IDX stock code: ROTI), Indonesia's
leading mass market bread company.
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KKR makes its investment from its Asian Fund III. KKR's investment in
Indosari is the firm's third in a leading Indonesian consumer company in
less than 18 months, following its investments in agri-company Japfa
Comfeed and on-demand mobile platform GO-JEK.
Commenting on the investment, Ms. Wendy Yap, Founder, President Director
& Chief Executive Officer of Indosari, said, "We are very pleased to
welcome KKR as an investor in Indosari. We believe Indosari will benefit
from KKR's knowledge and experience in the consumer sector and look
forward to drawing on their longstanding expertise and full support to
accelerate the growth of the business and position the company for
Indosari is a leader and pioneer in Indonesia's mass-produced, branded
bread segment. Established in 1995, the Company has 10 manufacturing
facilities across eight cities across the country. Marketed under its
own Sari Roti brand, Indosari produces and sells a wide range of bread
and cake products which have become a recognized staple in many
Indonesian homes. Indosari's products are distributed across its
extensive network of 67,000 points of sale across both modern trade and
general trade channels.
KKR's investment in Indosari is being made at a time when Indonesia has
seen consumption as a percentage of GDP rise to 58%. KKR forecasts
Indonesia's GDP-per-capita to grow significantly in the near term, in
conjunction with accelerated urbanization trends and a population of
261.1 million of which half is under the age of 30. These emerging
middle class consumers are already demanding higher-quality products and
value-added services which should drive the long-term growth of sectors
such as branded consumer products, including those produced by Indosari.
Jaka Prasetya, Managing Director at KKR Asia, said, "Indosari is KKR's
third investment in a leading consumer goods company in Indonesia,
underscoring our strong belief in the continued growth of the country's
consumer sector. KKR is focused on partnering with strong Indonesian
entrepreneurs to provide assistance and capital to home-grown, local
champions like Indosari. We believe that, with its focus on delivering
premium, high-quality products to consumers, Indosari is well-positioned
to capture opportunities across Indonesia and overseas. We look forward
to working alongside Ms. Wendy Yap and the whole Indosari team to build
on the company's success."
About PT Nippon Indosari Corpindo Tbk.
PT Nippon Indosari Corpindo Tbk. (IDX: ROTI) is a bread company
established in 1995, with its brand Sari Roti, that is committed to
continuously produce and distribute products which are halal, high
quality, hygienic and affordable to all Indonesian consumers. As part of
the commitment to the consumers, the Company implements the ISO
standards of Food Safety Management System and Quality Management
System. The Company operates 10 factories located in Bekasi (Cikarang
and Cibitung), Pasuruan, Semarang, Medan, Palembang, Makassar, Cikande,
and Purwakarta, with the total daily production capacity of more than 4
million pieces of bread. All Sari Roti products are registered in
Indonesia National Agency of Drug and Food Control (NA-DFC) and
certified halal by the Indonesian Council of Ulama (MUI). In 2016, the
Company and Monde Nissin Corporation entered into an agreement to
establish a joint venture company called Sarimonde Foods Corporation
that is expected to commence operation in early 2018. Visit www.sariroti.com
for more details about the Company and www.rotinyaindonesia.com
for the latest products of Sari Roti.
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate, credit and, through its strategic partners,
hedge funds. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and driving growth and value creation with KKR
portfolio companies. KKR invests its own capital alongside its partners'
capital and provides financing solutions and investment opportunities
through its capital markets business. References to KKR's investments
may include the activities of its sponsored funds. For additional
information about KKR & Co. L.P. (NYSE: KKR), please visit KKR's website
at www.kkr.com and
on Twitter @KKR_Co.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171025006527/en/
Anita Davis, +852 3602 7335
Huller/Cara Kleiman, +1 212 230 9722
Communications Counsellors (For KKR Indonesia)
Maulidanti, +6221739 9928
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