JAKARTA : Agribusiness firm Japfa, through its subsidiary So Good Food, and the US-owned agribusiness firm PT Cargill Food Investment Indonesia have agreed to establish PT Cahaya Gunung Foods, as 40/60 joint venture to produce fully cooked poultry products.
The joint venture will initially operate out of So Good Food's existing meat processing plant in Boyolali, Central Java, and take over employment at the facility. Meanwhile, So Good Food will continue to operate its four meat processing plants in Indonesia, focused on producing ready-to-eat food products.
"This is our first venture into the poultry business in Indonesia and we are excited to be partnering with Japfa", said Cahaya Gunung Foods managing director Derek Schoonbaert in a press statement in Jakarta on Tuesday.
The strategic partnership will boost So Good Food's capabilities in consumer food processing technologies, product innovation and quality assurance.
Both companies will also work together to produce a new range of value-added consumer food products and expand into regional markets.
"Our So Good, So Good Sozzis and So Nice brands are already award-winning household names in Indonesia for processed meats," Japfa CEO Tan Yong Nang Said -- JP