Consumer goods firm Indofood CBP Sukses Makmur (ICBP) — part of Indofood Group — has acquired the entire stake of Spanish-French food company Danone’s dairy produce subsidiary, in an attempt to boost its own dairy output. 

Pursuant to CVM Instruction nº 358 of January 03, 2002, BRF S.A (NYSE: BRFS) hereby informs its shareholders and the market that, on the date hereof, it signed a binding memorandum of understanding ("MOU") with PT Indofood Sukses Makmur Tbk., ("Indofood"), for the incorporation of a joint venture company ("JVC"), which will explore the poultry and processed foods businesses in Indonesia.The JVC will represent the entry of BRF in Indonesia, a market with more than 250 million people and which is experiencing a significant protein consumption growth.

Food giant PT Indofood Sukses Makmur is targeting revenues from its flour mill division PT Bogasari to grow 5 percent to 19.61 trillion rupiah ($1.66 billion) this year, compared with 18.68 trillion rupiah in 2013, on increasing demand, said director Franciscus Welirang.