The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Angel Yeast is partnering with agricultural company PT Tunas Baru Lampung (TBLA) to set up a subsidiary in Indonesia’s Lampung province.

Through the deal, Angel Yeast will acquire land to develop agricultural production projects, in a move to optimise its global yeast production operations and boost its international strategy and position in the Asia-Pacific markets.

The subsidiary has a registered capital of $54.29 million, of which Angel Yeast will contribute around $43.46 million and hold 80% of the shares, while TBLA will contribute about $10.83 million for 20% of the shares.

The land to be acquired is owned by Indonesian conglomerate Sungai Budi and has a total area of 15.31 hectares, with the total amount of the land acquisition expected to be worth around $5 million.

Chen Hongquan, chairman and general manager of Angel Yeast Indonesia, noted that the new subsidiary in Indonesia will enable the firm to leverage the local resources, strategic location and tariff advantages to accelerate and deepen its development in neighbouring markets.

Hongquan said: “The subsidiary will not only solidify our presence in Indonesia's yeast market to address increasing demand, but it will also enhance our competitive edge and long-term profitability in line with Angel Yeast's strategic goals. Additionally, we plan to aggressively penetrate markets in India, Oceania and North America to accelerate our market development and expand our market share.”

“Moving forward, Angel Yeast is committed to its mission of advancing biotechnology to foster healthier lifestyles. We will confidently enhance our technological innovation and research and development capabilities as we expand into global markets."

The deal is expected to be completed before February 2025.

#AngelYeast #TBLA #Indonesia