Creador, the Mauritius based PE firm has picked up entire stake of Godrej Consumer Products in Indonesian snack & instant food products company PT Simba Indosnack Makmur. Simba sells branded cereals & snacks.
The acquisition valued at $ 30milion, is expected to be completed within two months. Post this the PE firm will assume complete control of the company. Godrej’s Indonesia entity will continue to have distribution right for the company for next two years.
The acquisition has given Creador an opportunity to invest in a consumer-oriented business in Indonesia. The $ 130 million PE firm has been focusing on investment opportunities in India growth-orientated businesses in Indonesia, India and Malaysia.
On the transaction Adi Godrej, Chairman of Godrej group said – “The divestiture of the business will improve the margin profile of our Indonesian business and help the team to take the household and personal care platforms to their full potential”. The move is a part of company’s strategy to divest its non-core businesses and focus on its home care, hair care and skin cleansing products in emerging markets in Asia, Africa and Latin America.