date:Jan 29, 2013
India-based Godrej Consumer Products has agreed to sell its food business in Indonesia, PT Simba Indosnack Makmur, to private-equity firm Creador for $35m.
This move is a part of Godrej's strategy to focus on home and personal care products in the emerging markets of Asia, Latin America and Africa.
PT Simba produces cereals, snacks and instant food products primarily under the Turbo and Simba brands, and has reported annual sales of approximately $22m in 2012.
As a part of the deal, which is