JAKARTA: GarudaFood, a food and beverage manufacturer, signed an agreement on July 14 with Suntory Beverage & Food Limited to establish a joint venture company focusing on producing non alcohol beverage.GarudaFood Group CEO Sudhamek AWS, in a press statement today, said the company will dominate 49% of the ownership in the joint venture company while the other 51% will belong to Suntory.The strategic partnership, said Sudhamek, is one strategy of the company to boost its growth. As a leading player in snack industry, GarudaFood is a new comer in beverage business.Suntory is a know-how strategic partner with core competence in non alcohol beverage business. We hope Suntory could support the companys growth mainly in beverage sector in the future, both domestically and internationally, said Sudhamek.Suntory is a unit of Suntory Group which produces non alcohol beverages under brands like Suntory Oolong tea, Boss, and Orangina. Suntory Group is the second largest company in Japan with total revenue of IDR183 trillion in 2010. Its markets coverf Asia, America, Europe, Australia and New Zealand. Suntory targets Indonesia as its other production base in Southeast Asia.(NOM)
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