Global investment firm KKR is to invest US$81.2m for a 10.4% stake in PT Japfa Tbk – a subsidiary of the Singapore-based pan-Asian agri-food company Japfa.
KKR said the transaction marked its first direct, private-equity investment in Indonesia. Japfa will continue to hold a 51% stake in PT Japfa Tbk after KKR’s investment.
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KKR’s co-head of Asia Private Equity Ming Lu said: “We see a great opportunity for Indonesia’s poultry market given the country’s rising middle class, favourable urbanisation trends and increasing protein consumption. Japfa is the right partner with which to capture these opportunities given its leading market position, experienced management team and strong focus on food safety.”
Japfa produces protein staples such as chicken, beef and milk, as well as protein-based consumer food products. The company also operates industrial-scale farms which are vertically integrated with its downstream food processing operations.
PT Japfa Tbk CEO Tan Yong Nang said the firm will benefit from “KKR’s deep knowledge and experience in the agriculture and food sector, and its long-term investment thesis of promoting and enhancing the availability of safe and healthy food”.
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