Greatwall Capital Pte. Ltd., Japan’s Suntory Beverage & Food Limited (SBF) unit, has signed a conditional sale and purchase agreement with PT Garudafood Putra Putri Jaya Tbk (Garudafood). SBF is to transfer all the shares, 75%, in Suntory Garuda Beverage to its local Indonesian partner Garudafood, according to the SBF’s statement released on 28 December 2023. In the future, SBF will focus primarily on the health enrichment category in Indonesia.
Suntory Garuda Beverage offers a varities of drinks including Good Mood vitamin water, Okky jelly drinks, MYTEA bottled tea, Mountea RTD tea and Brand’s Essence of Chicken.
In 2011, Garudafood established a joint venture with SBF to produce, sell, and distribute non-alcoholic beverage products under PT Suntory Garuda Beverage.
Strong ownership of Suntory Garuda Beverage will give Garudafood room to explore new avenues of growth for the non-alcoholic drink business in Indonesia. The energy-giving beverage space is ripe for disruption as the current products have yet to excite consumers regarding taste and functionalities.
Suntory Garuda Beverage has recently launched OKKY Klik as a new jelly drink with nata de coco, vitamin B3 and B6, and guarana to meet the needs of the digital generation including mental energy and satiety.