Indofood CBP to acquire Pinehill for $2.99 bil. in noodle expansion in Middle East, Africa
JAKARTA, NNA - Indonesia’s food giant PT. Indofood CBP Sukses Makmur (Indofood CBP) has struck a deal to acquire the entire shares of Pinehill Co. for $2.998 billion in a strategic plan to be a global player as it expands in the Middle East, Africa and South Eastern Europe.Pinehill, registered in British Virgin Islands, is a consortium of companies that manufacture and sell instant noodles in eight countries mostly in the Middle East and Africa under the popular Indomie brand licensed by Indofood CBP.An affiliate of Indofood CBP, Pinehill operates 12 factories that churn out more than 10 billi...
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