Indonesia: Tereos establishes presence through joint venture

French group Tereos, a producer of sugar products under brands such as Beghin-Say, Guarani, TTD, and Sucreries de Bourbon, has entered the Indonesian market through the 50% acquisition of Redwood Indonesia from FKS Group. FKS will retain a 50% stake and along with Tereos will operate Redwood Indonesia, the sole producer of starch and glucose syrup in the Indonesian market, as a joint venture.

As a result of the new partnership, Tereos, the fourth largest producer of sugar in the world and the third largest starch producer in Europe, will leverage Redwood Indonesia’s corn starch facilities strategically located close to major consumption centres.

Tereos' Chief Executive Officer, Alexis Duval, commented: "This acquisition is an important step in our strategy for development in growing markets. We are pleased to be joining forces with FKS, which has become one of the leading agro-industrial groups in Indonesia over the past 40 years, with strong positions in the sugar and cereal sectors".

FKS, a leader in the supply, transport, storage and processing of agricultural commodities such as grain, soybean and corn, will continue to provide Redwood Indonesia with expertise in the sugar, cereal and animal feed markets.

Source: Usine Nouvelle / Tereos