San Miguel shutting down meat business in Indonesia
San Miguel Food and Beverage, Inc. (SMFBI), a core subsidiary of diversified conglomerate San Miguel Corporation is shutting down its processed meats business in Indonesia by the end of this month.
In a disclosure to the Philippine Stock Exchange, SMFBI said it is “rationalizing its processed meats business in Indonesia operating under PT San Miguel Foods Indonesia (PT SMFI), as the Company streamlines its businesses to focus on expansion in the Philippines.”
PT SMFI is joint venture between the SMFBI and PT Hero Intiputra with SMFBI owning 75 percent of the company while the Indonesian partner has a 25 percent stake. PT SMFI will cease operations effective October 31, 2021.
SMFBI said PT SMFI is the leading producer and marketer of halal fresh processed meat products for retail, foodservice, and institutional customers in Indonesia.
Its brands include Farmhouse and Vida sausages, burgers, meatballs, cold cuts, and food service products. All products are HACCP-accredited, ISO-certified, and are widely distributed in both the retail and food service market.