JAPAN/INDONESIA: Asahi Group lines up JV with Indofood CBP - report
Asahi Group has its eyes on Indonesia's non-alcoholic beverage market
Asahi Group has set up joint ventures to make non-alcoholic beverages with an Indonesian food-and-drinks firm worth US$213m, according to reports.
Asahi and PT Indofood CBP Sukses Makmur will set up two JVs, for marketing and distribution, Reuters reported today (9 July). Indofood CBP president Anthony Salim said the JVs would focus on the Indonesian market, according to the report.
In July last year, Asahi rival Suntory formed a joint-venture with Indonesia's Garudafood Group to develop a soft drinks business in the country. The deal has allowed Suntory to tap into growing demand in South-East Asia and secure a firm foothold in Indonesia.
Japan's drinks sector has seen a flurry of activity recently as companies compete for new revenue sources outside their domestic market.
Last year, Asahi acquired New Zealand's Charlie's Group and gained regulatory approval to buy Australia's P&N Beverages. It also bought Independent Liquor Group in New Zealand, for NZD1.53bn (JPY98.2bn, US$1.19bn).
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