Dutch food and nutrition group Royal Numico has announced that it will increase its majority shareholding in the Indonesian baby food company PT Sari Husada Tbk to 86.3%, effective 20 July.

With this transaction Numico will increase its shareholding in the capital of Sari Husada, Indonesia's leading baby food company, from 81.3% to 86.3%.  The value of the transaction is €28m (US$33.9m).

"Sari Husada's baby food business is of great importance to Numico's strategy in the Asia-Pacific region," said Jan Bennink, CEO of Numico. "This investment reinforces our commitment to the continuing success of this fast-growing and highly profitable company."

In a separate statement Numico announced that Peter Kroes and Johnny Widjaja have decided to resign from their positions as president and vice-president of the board of commissioners of PT Sari Husada Tbk,. An extraordinary general meeting of shareholders of Sari Husada will be called shortly, to propose the appointment of Gerrit Keyaerts, a Numico executive, as the new president commissioner.

Keyaerts was first elected as Commissioner of Sari Husada at the General Meeting of Shareholders in May 2004.  He is currently senior vice president, corporate controlling at Numico.

Budi Isman was appointed CEO at the annual general meeting of shareholders in May 2005.  To strengthen his management team, Alain Comel will now join Sari Husada and its board of directors as chief financial officer.  Comel is currently vice president finance and business development for Numico's Clinical Nutrition division.  This executive appointment at Sari Husada is also subject to shareholder approval.
"As the majority shareholder, Numico is very supportive of the changes being proposed by the board of commissioners and CEO Budi Isman to strengthen the overall management team and enhance good governance at Sari Husada" said Jan Bennink. " I look forward to the continued success of this exceptional and fast-growing company, as they take the potential of their business to the next level."