HK-based Anjoy Foods Limited, a wholly-owned subsidiary of Anjoy Foods, and Mutual Strategy Limited have unveiled plan to set up a joint-venture in Indonesia.
Under the JV agreement, Anjoy Foods will hold 50.5% stake while Mutual Strategy Limited will hold the remainder, contributing a total of US$74 million investment. The JV will establish a separate Indonesian production subsidiary, PT IndoAnjoy Sukses Makmur and trading subsidiary, PT IndoAnjoy Food Indonesia.
The JV also plans to produce a range of products which include frozen surimi, sausages and flour-and-rice products, alongside shelf-stable sausage and surimi snacks. Anjoy will provide research, manufacturing expertise and team-building support, while its partner will facilitate access to local supply chains and retail networks. The partners will also support the development of cold-chain infrastructure and operating procedures.
The new JV is awaiting regulatory approval, and it will help extend Anjoy’s international footprint in Indonesia and eventually to neighbouring countries. It will also combine Anjoy’s product development and manufacturing capabilities with its partner’s established market access.
As frozen foods is one of the main product category, there is a need for reliable temperature-controlled distribution, consistent product quality and retail availability to reach consumers. By having localised operations, it could help Anjoy respond faster to market demand.
