Nestlé Waters has announced that it is to team up with Coca-Cola in Indonesia.
The two companies are to create a joint venture to take a majority stake in the country’s second-biggest bottled water company, Nestlé said in a statement.
In a statement released late yesterday, Nestlé said the joint venture, called Waters Partners Bottling, had acquired a 65% stake in PT AdeS Alfindo Putrasetia (AAPS), the number two player in bottled water in Indonesia.
With over 6 billion litres, Indonesia is the seventh largest bottled water market in the world, and the second largest in Asia, after China. Sales of bottled water in Indonesia have shown consistent growth over the years and present many opportunities for future development, Nestlé commented.
No financial details were given.