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February 14, 2020

Indofood mulls move for noodle production partner Pinehill

Noodle giant Indofood is considering a move to buy one of its manufacturing partners, a business that produces for the Indonesian giant across a number of markets.

By Dean Best

Noodle giant Indofood Sukses Makmur is considering a move to buy one of its manufacturing partners, a business that produces for the Indonesian giant across a number of markets.

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A subsidiary of Indofood Sukses Makmur, Indofood CBP Sukses Makmur, said it had responded to an offer to buy Pinehill Company, a holding of four companies collectively known as The Pinehill Group.

Under a licensing agreement, Pinehill Company manufactures noodles in seven countries – Saudi Arabia, Nigeria, Turkey, Egypt, Kenya, Morocco and Serbia. The products are sold under Indofood’s Indomie trademark.

The publicly-listed Indofood CBP Sukses Makmur said it would conduct due diligence on Pinehill Company before deciding whether or not to lodge an offer.

Indofood CBP Sukses Makmur is the consumer brand arm of the wider Indofood group, which also has interested in agribusiness and distribution, as well as wheat flour and pasta production through its Bogasari division.

In the nine months to 30 September, the Indofood group generated net sales of IDR57.85trn (US$4.23bn), up 6% on the corresponding period a year earlier. Income from operations increased 5% to IDR7.15trn. Income for the period attributable to the equity holders of the parent entity grew by 25% to IDR3.53trn.

The company reported “strong performance” from Indofood CBP and Bogasari.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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