De Heus Animal Nutrition acquires ADM’s compound feed operations in Indonesia

INDONESIA – Dutch animal nutrition company, De Heus Animal Nutrition has completed the acquisition of the compound feed operations of Neovia Indonesia (PT Welgro Feedmill and PT Wirifa Sakti) from ADM. The acquisition further strengthens De Heus’ position in Indonesia with two compound feed mills located in West-Java and East-Java that generated total sales volume of 125,000 tonnes in 2019. Neovia Indonesia focus mainly on the poultry, aqua and swine feed segments. It is estimated that the size of the animal feed market in Indonesia will increase from 19 million…

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Coca-Cola Amatil teams up with Dynapack Asia to build recycling plant in Indonesia

INDONESIA – Coca-Cola Amatil Indonesia has entered into a Heads of Agreement with long-term packaging partner Dynapack Asia, to build a state-of-the-art bottle to bottle grade Polyethylene Terephthalate (PET) recycling facility in Indonesia. Coca-Cola Amatil and Dynapack said that they will work together through a proof of concept phase, which is intended to consider a potential plant’s economic feasibility, size, scale and location, end-to-end requirements and potential integration into each company’s value chains. President Director of Coca-Cola Amatil Indonesia, Kadir Gunduz, revealed Amatil and Dynapack had established a joint project…

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Ajinomoto Group introduces nutrient profiling system to its products

JAPAN – Tokyo-based seasonings major, Ajinomoto has announced that it will be rolling out its nutrition improvement activities globally following the introduction on April 1, 2020 of the Ajinomoto Group Nutrient Profiling System for Products (ANPS-P). The ANPS-P is a system which the company developed as a method of scientifically assessing the nutritional value of products such as powdered soups and frozen foods. Ajinomoto said that the Nutrient Profiling System will cover approximately 500 products at nine Ajinomoto Group companies in seven countries including Japan, Thailand, Asia, Vietnam, Indonesia, Philippines,…

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Indonesian coffee chain Kopi Kenangan raises US$109m to fuel growth

INDONESIA – Kopi Kenangan, Indonesia’s grab-and-go coffee chain has raised US$109 million in a Series B funding round led by existing investor Sequoia Capital to accelerate the startup’s expansion in Southeast Asia. According to a DealStreetAsia report, B Capital, Horizons Ventures, Verlinvest, Kunlun and Sofina as well as return backer Alpha JWC Ventures also participated in the funding round in a deal that counts as one of the largest consumer investments in the region. Kopi Kenangan plans to use proceeds from the investment round to further build its operations in…

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Olam secures US$176m to consolidate its cocoa and agribusiness operations

SINGAPORE – Global food and agri-business company, Olam International and its wholly owned subsidiary, Olam Treasury Pte. Ltd., have secured multi-tranche financing facilities aggregating US$176 million. The company disclosed that the financing arrangement was facilitated by the International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA).  The facilities consist of two tranches; a 5-year term loan of US$120 million and a 7-year term loan of US$56 million and is the first co-financing project between IFC and JICA in the agri-sector. The company intends to use the proceeds to finance…

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PepsiCo-backed plastic recycling fund invests US$6m in two Asian firms

SINGAPORE – The Circulate Capital Ocean Fund (CCOF), an investment fund dedicated to the alleviating the ocean plastic pollution crisis in Asia, has made its inaugural investments in two plastic recycling companies located in India and Indonesia for a total investment of US$6 million. CCOF is a US$106 million fund that was established by Singapore based investment firm, Circulate Capital​, and is backed by several of the world’s leading companies, including PepsiCo, the first investor; Procter & Gamble; Dow; Danone; Unilever; and The Coca-Cola Company. By supporting the Fund, the…

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Coca-Cola Amatil invests in Indonesian logostics startup Kargo Technologies

INDONESIA – Amatil X, the corporate venture capital platform of Coca-Cola Amatil Indonesia has made a strategic investment in Indonesian logistics startup, Kargo Technologies as part of the bottler’s broader strategy to digitize its operations. Kargo Technologies is a freight logistics startup that integrates shippers and logistics providers onto a single marketplace aiming at digitizing Indonesia’s freight logistics industry by leveraging technology to drive efficiency, transparency and accountability. The startup has developed a platform that enables shippers, transporters and truckers to connect, transact and track shipments in real time through…

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Indonesian agritech firm TaniHub Group raises US$17m to expand operations

INDONESIA – TaniHub Group, one of the leading agritech company’s in Indonesia, has raised US$17 million in a Series A extension round co-led by Openspace Ventures and Intudo Ventures. The round also saw the participation of UOB Venture Management, Vertex Ventures, BRI Ventures, Tenaya Capital and Golden Gate Ventures and brings the total funding raised by the company to US$29 million since its establishment in Mid-2016. In May 2019, TaniHub raised US$10 million in a Series A funding round to further support its platform, which links farmers together with multiple…

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Greenfields secures solar energy deal for its Indonesian milk processing plant

SINGAPORE – Greenfields, the largest dairy company in Southeast Asia has partnered with Total Solar Distributed Generation (DG) to provide solar power for its biggest milk processing plant in Palaan, East Java, Indonesia. The Indonesian plant plant, which processes 70 million litres of milk annually will be equipped with a 1,300kWp solar power system by Total Solar DG, a wholly-owned subsidiary of French energy group, Total S.A. Greenfields said that the system is expected to be running in the third quarter of 2020. The solar system will have a capacity…

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Olam International sells stake in Indonesian sugar joint venture to Mitr Phol

SINGAPORE – Global food and agri-business Olam International has entered into an agreement to sell its remaining 50% stake in Indonesian sugar joint-venture, Far East Agri to its joint venture partner Mitr Phol Sugar Corporation. The transaction involves a total consideration of between US$82.5 million and US$85 million, subject to final adjustments as provided in the sale and purchase agreement. The transaction is expected to be completed by end-March 2020, subject to customary closing conditions. Upon completion, Far East Agri will cease to be an associated company of Olam. Olam expects…

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