Indonesia’s PT Sari Murni Abadi (SMA) has recently finalised its acquisition in Bibica, one of Vietnam’s leading snack and confectionery producers.
An agreement was signed with parent company, The PAN Group JSC in which the latter will withdraw from Bibica after 8 years, while paving the way for SMA to penetrate deeper into Vietnam’s confectionery segment.
This acquisition is part of SMA’s continuous global expansion strategy, through which the company will gain a broader growth opportunity and an increasingly comprehensive product portfolio, ranging from snacks to biscuits and confectionery.
Bibica is one of the oldest confectionery manufacturers in Vietnam, owning a distribution network of more than 100,000 points of sale and factories in Long An and Hanoi. Meanwhile, SMA is an Indonesian snacks manufacturer with its flagship snack brand Momogi.
SMA Chief Financial Officer Servin said, “The deal aligns with the company’s ambition to grow its international footprint and strengthen its position as a producer and distributor of fast-moving consumer goods across overseas markets. Through this collaboration with Bibica Vietnam, we believe the synergy will improve cross-border production and distribution efficiency.”
The acquisition was completed through SMA’s purchase of shares from PAN Group, Bibica’s major shareholder, holding over 18.4 million Bibica shares through its subsidiary Bibica Capital, before divesting its stake to SMA.
According to Statista, Vietnam confectionery market generated a sales revenue of US$1.77 billion in 2025 with a projected annual growth of 6.1% from 2025 to 2030.
Market watchers said the acquisition could pave the way for more cross-border mergers and acquisitions in the region’s food industry, reflecting growing production and consumption integration across Southeast Asia as companies restructure their value chains to better compete with global giants.
