December 22, 2017 / 9:32 AM / a year ago

Arla Foods enters joint venture with Indonesia's Indofood

COPENHAGEN, Dec 22 (Reuters) - Denmark-based dairy co-operative Arla Foods said on Friday it would enter a joint venture with Indonesia’s PT Indofood Sukses Makmur Tbk .

* The newly signed joint venture agreement with Indofood, Indonesia’s largest instant noodle maker, is set to expand Arla Foods’ presence in the Indonesian market, Arla said

* Indonesia is the biggest market for dairy products in Southeast Asia, Arla said

* The new joint venture company is called Arla Indofood Sukses Makmur

* Arla will own 50 percent plus 1 share in the joint venture, while Indofood will hold 50 percent minus 1 share

* The joint venture will handle sales, distribution and production of dairy products, Arla said

* Details about product portfolio, production and launch dates will be announced at a later date, the company said

* Arla Foods is an international dairy co-operative owned by 11,200 farmers from Denmark, Sweden, Britain, Germany, Belgium, Luxemburg and the Netherlands.

* Indofood is engaged in diverse business categories, including noodles, dairy, snack foods, food seasonings, nutrition and special foods, and beverages (Reporting by Jacob Gronholt-Pedersen; Editing by Edmund Blair)

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