JAPAN: Calbee, Itochu, Mitrojaya form Indonesia JV
According to Nikkei, the venture will be a re-entry into the Indonesian market for Calbee
Japanese snacks group Calbee has announced plans to form a snack joint venture in Indonesia with Itochu Corp and PT Mitrojaya Ekaprana.
The deal, announced yesterday (4 December) will include the formation of a company that will manufacture snacks in Indonesia, to be headquartered in Chiyoda-ku, Tokyo. Calbee will own a 90% stake in the firm, while Japanese conglomerate Itochu will hold 10%.
The new company and Jakarta-based PT. Mitrajaya Ekaprana will then each take a 50% stake in a joint venture to be established between January and March next year.
Plant operations and sales of the products are expected to commence around March 2014. Under the joint venture project, Itochu will supply potatoes and other materials.
According to Nikkei, the venture will mark a re-entry into the Indonesian market for Calbee. The company previously did business in Indonesia through a licensing agreement with a local unit of European conglomerate Unilever, which sold Calbee snacks there until 2008.
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