Garudafood eyes majority stake in Prochiz brand owner

Indonesia’s major food manufacturer, Garudafood Putra Putri Jaya has recently signed a memorandum of understanding (MoU) to acquire a majority stake (55%) in Mulia Boga Raya.
Mulia Boga Raya owns Prochiz cheese, a well-known brand sold across Southeast Asia.
Garudafood owns 5 factories and markets confectionery products, biscuits, savory snacks and dairy products with an annual sales turnover of Rp 8.49 trillion (US$574 million).
Both Garudafood and Mulia Boga Raya share the same large shareholder, Tudung Group.