MAP Group Gears Up With F&B Expansions
Burger King India is reportedly interested in acquiring 85% shares of PT Sari Burger Indonesia, the management of Burger King Indonesia, along with a direct investment worth US$ 40 million. This acquisition plan was announced on Friday (8/27) and will be effectively open for 90 days ahead. Currently, a subsidiary company of F&B Asia Venture, Quick Service Restaurant Indoburger Pte Ltd., holds the majority share of 66,48% at Sari Burger Indonesia, while the remaining 33,52% are still owned by PT Mitra Adiperkasa Tbk (MAPI). It’s worth mentioning that Sari Burger Indonesia is valued at US$183 Million, and The initial offering is for controlling ownership, as well as direct investment. Following thereafter, Burger King India and F&B Asia will perform due diligence and appoint the appropriate advisers and intermediaries to begin negotiations on the agreement. It is also said that Burger King India is considering and negotiating the various financing options available.
In the first quarter of 2021, PT Mitra Adiperkasa (MAP) was performing considerably pleasing; it was reported that their net sales amounted to Rp4.3 trillion. However, the implementation of Community Activities Restriction Enforcement (PPKM) has dramatically affected sales that have been made, dragging it down to Rp1.44 trillion in June of the year 2021. In actuality, MAP is still on the right track as PPKM has heightened the public's desire to shop products, namely fashion, sports, lifestyle, kids, digital, and food and beverage (F&B). The Vice President Director (V.P.) of MAP Group, Sharma, disclosed that to reach consistent quarterly earnings potential, MAP Group launched several strategies. Some of which include maximizing the offline ecosystem potential as well as integrated online platforms, including market penetration in unified retail through MAP Club, which currently has 4.3 million members. "We are also establishing a foundation for long-term growth through investment in new brands, new businesses, and new markets that will supplement strength and scale to future earnings," he explained in a MAP Group public expose, Thursday (19/8). The sizable increase in sales of new products, particularly F&B sectors, also transpired due to MAP's eagerness to support the delivery of brand-new products, a powerful marketing strategy, and a targeted CRM campaign so that the gross profit margin can increase to close to 2%.
In addition, the public was astounded by the news of the United States sandwich outlet, Subway’s return to Indonesia. The collaboration was carried out with Subway and PT Sari Sandwich Indonesia, a subsidiary of the food & beverage (F&B) retailer of PT Map Boga Adiperkasa Tbk (MAPB), which is also part of PT Mitra Adiperkasa Tbk (MAPI). According to the joint agreement, PT Sari Sandwich Indonesia will officially run Subway in Indonesia, increasing MAPB's business portfolio to eight premium international brands. Moreover, Indonesia will globally be the first country to implement the Subway exclusive country franchise model. Based on this model, MAPB will be the spearhead and sole company for Subway development in Indonesia. “MAPB recognizes the important role of F&B retail and has always partnered with the best in class brands. Thus, Subway is the best option for us," stated V.P. Sharma, Group CEO of PT Mitra Adiperkasa Tbk. on (8/23). All in all, as we progress through this pandemic, MAP Group's business expansion can improve its F&B retail sector and add new colors to the F&B market.
Source:
Bisnis
CNBC indonesia
IDX Channel
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