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Indofood CBP - Asahi set sales target on non-alcoholic beverage business in Indonesia

25 February 2014 09:54 AM  Company: PT. Indofood CBP Sukses Makmur Tbk[ICBP]
Rp. 12,400  +400 (3.33%)

TOKYO - During the joint press conference between Indofood Group and Asahi Group Holdings, Ltd. in Tokyo today, they communicate that they aim to achieve sales of Rp5 trillion in 2017 for their non-alcoholic beverage business in Indonesia.

In August 2012, PT Indofood CBP Sukses Makmur Tbk (the “Company”) and Asahi Group Holdings Southeast Asia Pte. Ltd., established two joint venture entities, PT Asahi Indofood Beverage Makmur (“AIBM”), a joint venture entity which manufacture non-alcoholic beverage, and PT Indofood Asahi Sukses Beverage (“IASB”), a joint venture entity which undertake the marketing and distribution of non-alcoholic beverage (Jointly “JV Subsidiaries”).

In order to accelerate launch and growth of non-alcoholic beverage business, in September 2013, JV Subsidiaries have completed the acquisition of PT Pepsi-Cola Indobeverages, currently known as PT Prima Cahaya Indobeverages (“PCIB”), a bottler of PepsiCo brand carbonated drinks and fruit juice drinks.

In October 2013 JV Subsidiaries and PT Multi Bahagia (“MB”) – (jointly “JV Bottled Water”) established two joint ventures entities to manufacture, as well as to market and distribute bottled water. Subsequently, in January 2014 JV Bottled Water entities completed the acquisition of assets and brand (CLUB) of Indonesia’s second largest bottled water manufacturer.

In December 2013, JV Subsidiaries entered Indonesian Ready-to-drink tea category by launching ICHI OCHA and they plan to launch Ready-to-drink coffee and functional drink categories during 2014.

Currently, AIBM is building a new plant and is expected to start operation in the second half of 2014. This plant will join PCIB’s two plants and water bottled’s 14 plants to give the Indonesian business a combined production network of 17 plants.

Non-alcoholic beverage is one of the fastest growing categories in Indonesian market. Based on Canadean, a leading consumer market research firm, the non-alcoholic beverage market is worth more than USD8 billion and has experienced double-digit growth over the past few years.

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PT. Indofood CBP Sukses Makmur Tbk [ICBP]   Rp. 12,400   +400 (3.33%)