Indofood to buy Danone Dairy Indonesia

  

Jakarta-based ICBP (Indofood) announced in an Indonesian Stock Exchange (IDX) filing that it will buy Danone Dairy Indonesia.

"Following this acquisition, ICBP will have additional capacity to meet the demand of liquid milk in the western area of Indonesia, as well as strong presence [sic] in the dairy industry in Indonesia," the company said in the filing.

Indolakto will take ownership of all trademarks and industrial designs associated with Danone's popular Indonesian fresh dairy brand, Milkuat, which is targeted at children.

The company expects to complete the deal, which is subject to Indonesian regulatory approval, before the end of December.

Indonesia is the fifth largest market for Danone in terms of sales.