SG’s Jebsen & Jessen Packaging acquires 60% of Indo Tirta Abadi

Photo: Indo Tirta Abadi website

Singapore-based Jebsen & Jessen Packaging (JJP) has acquired a 60 per cent stake in Indonesian beverage packaging manufacturer PT Indo Tirta Abadi (ITA), according to a press statement.

The companies signed a sale and purchase agreement on 31 January 2020, while the transaction will be closed in early March. Terms of the deal were not disclosed.

Founded in 2003, ITA has two factories located in Tangerang, Banten province and Gempol on the outskirts of Surabaya. The company, which recorded a turnover of S$42 million in 2019, produces PET bottles, PET preforms and HDPE closures.

ITA, which was founded by Herman Ali, counts Danone, Coca-Cola, Sosro, Nestle and Yeo’s among its customers.

“With the investment into ITA, our Packaging Regional Business Unit (RBU) will grow its business by 50%. I am excited by this strategic growth move and am delighted that the partnership with the Ali family helps us expand our platform beyond Singapore, Malaysia and Vietnam to now also include ASEAN’s largest economy, Indonesia,” said Jebsen & Jessen Packaging regional managing director Chui Tau Siong, who will become the president director of ITA once the transaction is completed.

ITA has 500 employees and produces 2.5 billion closures per year, 320 million preforms per month and 1,800 bottles per minute. Through its two existing factories, ITA supplies its products across the Indonesian archipelago as well as the ASEAN countries and Australia.

Meanwhile, JJP is part of Jebsen & Jessen Group engaged in manufacturing, engineering and distribution. The company operates in eight ASEAN countries and China through its network in 30 locations as well as nine manufacturing facilities.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.