PETALING JAYA: Private equity (PE) firm Creador has acquired a 40% stake in PT Adilmart, a fast growing Indonesian consumer foods brand from its parent company CCK Consolidated Bhd (CCK).
The stake was acquired via Astrantia Sdn Bhd, a special purpose vehicle of Creador.
Astrantia will pay RM88.1mil to CCK for a 26.5% stake in PT Adilmart as well as subscribe for another 27,047 new shares in PT Adilmart for RM75mil.
In a release, Creador’s country head of Malaysia and executive director, Livia Chan, said its focus now will be on expanding PT Adilmart’s production capacity and accelerating its distribution coverage across new regions in Indonesia.
In a filing with Bursa Malaysia, CCK stated it will use the proceeds from the stake sale to repay debts, fund existing business and for future projects or investments.
Since 2011, Creador has invested in four unicorns in Indonesia, namely MR DIY Indonesia, Cimory, BFI, and Hermina.
