47
Suntory Beverage & Food (SBF) is disposing its stake (75%) in Indonesian non-alcoholic beverage joint-venture (JV) business to PT Garudafood Putra Putri Jaya Tbk.
The JV called Suntory Garuda Beverage was sold as SBF seeks to focus on ‘health enrichment’ category in Indonesia.
Suntory Garuda Beverage has manufacturing, bottling and distribution operations for non-alcoholic beverages in Indonesia. Its products include tea brands Mytea and Mounttea, as well as the jelly-based beverage Okky.
In the first 9 months of 2023, Suntory Asia-Pacific business reported revenue of US$1.94 billion, up 6.2% from a year earlier. Past reports showed the region, excluding Japan, contributed about 19% to sales in 2022.
