Garudafood to Diversify through Prochiz Acquisition

Summary

PT Garudafood Putra Putri Jaya Tbk (GOOD) has completed the acquisition process in PT Mulia Boga Raya Tbk (KEJU), a cheese producer with the Prochiz trademark. It acquired 825 million shares or 55 percent of Mulia Boga’s total shares, priced at Rp 1,156 per share. The transaction occurred on October 14, 2020, with a total value of Rp 953.70 billion.

Garudafood purchased KEJU’s shares from six individual shareholders. “The purpose of the takeover is to develop business, expand business networks, and strengthen the company’s position in the food and beverage industry,” the management of Garudafood revealed on Thursday (10/15).

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