Private-equity firm CVC Capital Partners is considering plan to offload 20% of its stake in GarudaFood Putra Putri Jaya, a major Indonesia-based manufacturer of chocolate snacks and other confectionery products.
GarudaFood markets products across savoury snacks, confectionery, biscuits and dairy. Its brands include Garuda, Gery and Chocolatos. The group owns 5 factories and exports to more than 20 countries, with major focus on ASEAN, China and India.
Established since 1994, GarudaFood was listed in 2018. It owns 49% of Hormel GarudaFood Jaya, a venture with US manufacturer Hormel Foods, through which it sells products like Skippy nut butter. The group also holds a 66% stake in Mulia Boga Raya, an Indonesia dairy processor.
In 2021, GarudaFood saw its sales rose by 14% to Rp 8.8 trillion (US$590 million).
