PT Unilever Indonesia Tbk (UNVR) has agreed to sell its tea business under the Sariwangi brand to PT Savoria Kreasi Rasa, a subsidiary of Indonesia’s conglomerate Djarum Group, in a transaction valued at 1.5 trillion rupiah (around $89.42 million), according to its filing with the Indonesian Stock Exchange (IDX).
The consumer goods major said it signed a business transfer agreement on January 6, 2026, covering the divestment of its tea segment. The transaction is scheduled to be completed on March 2, or another date mutually agreed by the parties.
Upon completion, the transaction will include the transfer of assets related to the Sariwangi business, “and any disputes arising between the parties shall be resolved through arbitration administered by the Singapore International Arbitration Centre,” said the company in a disclosure.
Unilever Indonesia said the agreed price of 1.5 trillion rupiah, excluding applicable taxes, was supported by an independent valuation conducted by Suwendho Rinaldy dan Rekan, which assessed the business at 1.49 trillion rupiah. The transaction value represents about 45% of the company’s equity as of September 30, 2025, based on audited financial statements.
Despite meeting the threshold of a material transaction, the sale does not require shareholder approval, as the tea business accounts for a relatively small portion of Unilever Indonesia’s overall operations. The Sariwangi segment contributed around 2.7% of revenue, 3.1% of net profit, and 2.5% of total assets, the company disclosed.
Unilever Indonesia said the divestment would allow it to realise the value of its investment in the tea business and return that value to shareholders in the near term while sharpening its focus on its remaining core businesses. The company added that the transaction is not expected to have a material impact on its operational activities or business continuity.
In a statement, Unilever Indonesia president Director Benjie Yap stated that the transaction is expected to position the SariWangi business for its next phase of growth. He added that the move allows Unilever Indonesia to sharpen its focus on core segments with higher growth prospects while continuing to deliver long-term value to its investors. Unilever Indonesia acquired the Sariwangi brand in 1989, establishing it as one of the first packaged tea brands in the country.
The deal will be completed once customary closing conditions are satisfied, with completion targeted in the first half of 2026, Yap added.
PT Savoria Kreasi Rasa is part of the Savoria Group, a fast-growing FMCG group in Indonesia under the Djarum Group. The group started with food products and later expanded into the beverage sector, building a diversified portfolio of consumer brands across multiple categories.
Savoria Group’s business covers a range of food and drink segments. Its portfolio includes dairy products under MilkLife; pastries such as 5DAYS and BONCHEF; coffee product brands CAFFINO and Kopi Tubruk Gadjah; and snack and confectionery lines including FOX’S, KRIZZI, and SHOT. The group’s operations are supported by multiple production facilities and a distribution network that reaches both domestic and international markets.
PT Savoria Kreasi Rasa specifically focuses on manufacturing confectionery, snacks, and beverages, with flagship products like FOX’S, KRIZZI, and HYDROPLUS. The company was established in 2016 and operates at least two production sites in Indonesia.
