SINGAPORE (Yosefardi) – Asahi Group Holdings, Ltd. reported PT Asahi Indofood Beverage Makmur (AIBM, Asahi’s consolidated subsidiary) and PT Indofood Asahi Sukses Beverage (IASB), each a joint venture company between Asahi and PT Indofood CBP Sukses Makmur Tbk (ICBP), entered into a share purchase agreement to acquire all the outstanding shares of PT Pepsi-Cola Indobeverages (PCIB), the exclusive bottler of PepsiCo, Inc. in Indonesia.
AIBM and IASB will acquire all outstanding shares of PCIB from its current shareholders, PT Gapura Usahatama (GU) (holding 71.85%) and Seven-Up Nederland B.V. (SUN) (holding 28.15%). The purchase price is US$30,000,000.
The closing of the transaction is subject to satisfaction of conditions provided for in the share purchase agreement. PCIB will continue to bottle and sell PepsiCo products both during and after the completion of the transaction.
Asahi Group has been looking for expanding the international network mainly in Southeast Asia even before the MediumTerm Management Plan 2015.
As a bottler of leading US beverage company PepsiCo, PCIB is an exclusive manufacturer and distributor of products
under PepsiCo’s brands including Pepsi, 7up and Tropicana Twister in Indonesia. In addition, PCIB also engages in
manufacturing and distribution of its own brands such as “Fruitamin (fruit juice drink)” and “Tekita (RTD tea beverage).
Since its inception in 1993 as a joint venture between Seven-Up Nederland B.V. (SUN), a member of the PepsiCo group and PT Gapura Usahatama (GU), one of the group companies of a leading Indonesian conglomerate, the Salim Group, PCIB has been growing the business for over 20 years on the back of strong brand recognition in Indonesia.
This share purchase agreement has resulted from a combination of the aspiration of Asahi and ICBP to accelerate launch and growth of the beverage business in Indonesia and PepsiCo’s strategy to further increase sales of its brands by leveraging on the strengths of Asahi and ICBP.
By Ferdi Hasiman