JAKARTA (TheInsiderStories) – Global investment firm KKR & Co. global investment company L.P. has increased it share ownership in the local food producer PT Nippon Indosari Corpindo Tbk (IDX: ROTI). The action to increase share ownership was carried out through Singapore’s investment company Demeter Indo Investment Pte. Ltd.
Citing on information disclosure to the Indonesia Securities Foam Association on Friday (28/09), Demeter bought 175 million shares of ROTI on Sept. 26 with the average price Rp950 per share with total amount Rp166.25 billion (US$11.47 million). After the transaction, KKR will hold 18.05 percent ROTI’s shares.
Last year, KKR has acquired approximately 12.64 percent of ROTI’s shares at a price of Rp1,275 per share in total investment of around $74 million. This investment makes the KKR as one of the largest shareholders in food producer besides Salim Group units, PT Indoritel Makmur Internasional Tbk (IDX: DNET), Bonlight Investments Ltd. Co. owned by the Yap Family and Pasco Shikishima Corp. owned by the Morita Family.
In June of this year, KKR has acquired the Spreads business assets from publicly listed PT Unilever Indonesia Tbk (IDX: UNVR) to distribute products with brands global trade Frytol, Blue Band Master and Blue Band, as well as local trademark Oil Samin and Blue Band Gold. Total transaction value is Rp2.93 trillion.
As it is known last year, Unilever N.V. and Unilever Plc (NYSE: NU) received an offer from the American firm TRC Companies Inc, in connection with Unilever’s global Spreads business purchase, including the Spreads category asset at Indonesia managed by the company for €6.825 billion on a cash-free, debt-free basis. The investment is being funded by both the European and North American private equity funds of KKR.
Established in 1995, Nippon Indosari is a pioneer and market leader in branded bread segments that are mass-produced in Indonesia. Marketed under the Sari Roti brand, the company produces and sells a wide variety of bread and cake products through an extensive network of 67,000 selling points in both the modern and traditional markets.
KKR is a leading global investment company which manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic manager partnerships.