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).
- Have spirits companies forgotten the mainstream?
- Does alcohol accelerate the onset of dementia?
- Pernod's mood darkens over India - Analysis
- Why Scotch must drop the 'malts good, blends bad'
- Ashwagandha - The next functional drinks trend?
- Moet Hennessy unaffected by LVMH Dior buy
- Distell acquires majority stake in Cruz Vodka
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Portman Group heads to Tesco for new chief exec
- William Grant names Europe & NA Travel Retail head
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Global vodka insights - market forecasts, product innovation and consumer trends