Popular Indonesian bread brand Aoka, owned by PT Indonesia Bakery Family, is believed to be currently in talks with private equity and strategic investors to raise up to US$50 million in fresh capital.
Last year, Aoka faced viral accusation that its products contain sodium dehydroacetate used in cosmetic preservatives, but this was resolved by the Food & Drug Administration (BPOM) which later confirmed that Aoka bread is safe for human consumption.
Amidst the controversy, the Aoka owners have affirmed that their products are safe and they use quality ingredients in the manufacturing.
There is growing investor interest in Southeast Asia’s fast growing packaged bakery sector. With a population of more than 250 million, Indonesia offers a healthy booming market for investors.
