JAKARTA. PT Kalbe Farma Tbk (KLBF), a pharmaceutical company, is exploring the possibility to establish a joint venture (JV) with Hale International.
President Director of KLBF, Vidjongtius, announced that currently, Kalbe Farma is open to opportunities for cooperation with companies engaged in the production of health drinks. “The cooperation is like a joint venture, but everything is being explored, so there is no definitive answer,” he said as quoted by Kontan.co.id on Friday (6/9).
Previously, in 2012, KLBF had signed a Conditional Sale and Purchase Agreement or Conditional Takeover Agreement on 100% of PT Hale International shares. The acquisition was carried out to strengthen the company’s ready-to-drink health drink segment.
KLBF believes that the joint venture can generate sales in excess of Rp100 billion in just a few years.
PT Hale International is a company based in Indonesia which is engaged in the production of health drinks in the form of bottled fruit juice since 2007. Its well-known brand is Original Love Juice, which has variations such as oranges, apples, guava, and pomegranate juice.
Source: IDN Financials | 9 September 2019
Kalbe Farma exploring possibility of a joint venture with Hale International