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Suntory establishes joint venture with Garudafood
Suntory Beverage & Food Limited (SBF) and Garudafood Group have agreed to establish a joint venture in Indonesia for the production, sales and distribution of non-alcoholic beverage products.
Garudafood will contribute its existing beverage business into a new joint venture company in which SBF will own a 51% stake.
SBF will acquire a 34% stake in PT Sinar Niaga Sejahtera, the sales and distribution arm of Garudafood’s beverage and food products.
The new joint venture is a platform for Suntory to further engage in its business development across Indonesia, and provides a firm foothold in a country that continues to experience rapid economic growth, as part of Suntory Group’s strategy to expand its business and develop the Suntory brand.
Source: Suntory
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