INDONESIA: Indofood buys 60% stake in packaging firm
Indonesia-based instant noodle maker Indofood Sukses Makmur has said it has acquired a 60% stake in unlisted packaging company Surya Renggo Containers for IDR255bn (US$27.8m).
Indonesia-based instant noodle maker Indofood Sukses Makmur has said it has acquired a 60% stake in unlisted packaging company Surya Renggo Containers for IDR255bn (US$27.8m).
Indofood said it had purchased the stake from Stanhope Ltd in order to ensure a sustainable supply to help meet its packaging requirements, reported Dow Jones International News.
Surya Renggo Containers supplies around 60% of Indofood’s packaging.
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