PT Tiga Pilar Sejahtera Food Tbk (TPS Food) has acquired production facility and rice brand dubbed Ayam Jago from PT Alam Makmur Sembada (AMS), one of Indonesia's largest rice producer.
TPS Food has also taken over 10 rice brands namely Rojo Lele Dumbo, Istana Bangkok, Vita Rice, Desa Cianjur, Rumah Adat, and Berat Ketan Putih Thailand worth Rp170 billion.
Corporate Secretary of TPS Food Yulianni Liyuwardi said the company has completed acquisition rice mills and rice brands by end of August.
"Those acquisitions are strategic for us as the quality of rice brands are premium," she said as quoted by Investor Daily today.
Disclosure: No position at the stock mentioned above.
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