Indofood Pays US$350mn For Drayton

Indonesia's leading food company, PT Indofood Sukses Makmur, is expanding its branded consumer products division via the acquisition of a 69% stake in dairy producer PT Indolakto. Indofood will acquire 100% of Indolakto's 69% parent, Drayton Pte Ltd, in a deal worth US$350mn, thus establishing its presence in the fledgling, but high potential, Indonesian dairy market. Indofood also has a distribution relationship with Indolakto: the former distributes products for the latter via its PT Indomarco Adi Prima subsidiary.

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