Indonesian firm to acquire Vietnamese food company

Monday, Feb 09, 2015 16:46

A customer purchases biscuits of local and international companies at a supermaket. Indonesian firm PT Tiga Pilar Sejahtera Food Tbk plans to acquire a stake between 90-100 per cent in a Vietnamese food. — Photo

JAKARTA (Biz Hub) — Indonesian food firm PT Tiga Pilar Sejahtera Food Tbk (AISA) plans to pour US$80 million into Viet Nam and Malaysia to purchase stakes in two food companies this year.

AISA's move aims to help the firm become a regional player in the industry.

According to The Jakarta Post, AISA Finance Director Sjambiri Lioe said that they had set a target of acquiring a 90 to 100 per cent stake in a Vietnamese food company and a majority stake in a Malaysian food company.

He added that his firm's negotiation with the Vietnamese partner will be completed soon, and that the negotiations with the Malaysian firm were still at an early stage.

Lioe declined to reveal the names of the two companies, but disclosed that one of them is a biscuit manufacturer. He also said that AISA will sell the products of the company in Indonesia, and still maintain its share in that country.

AISA, founded in 1990 and based in Jakarta, was originally only engaged in the food business (TPS food). In 2008, it entered the business of oil palm plantations (TPS Agro), and at the end of 2010, started a rice business by acquiring a local company. — VNS

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