SINGAPORE (Nov 30): Food manufacturer Japfa recently piqued investor interest after private equity firm KKR invested US$81.2 million ($115.7 million) for a 10.4% stake in the group’s Indonesian-listed subsidiary PT Japfa Tbk.

UOB Kay Hian’s analyst Nicholas Leow notes that Japfa business is a highly competitive and price sensitive, so operational and cost efficiency is key to its profitability.

KKR has had operational experience in the sector through its investment in Shenzhen-listed Fujian Sunner. With the new investor, Leow now expects the group to have a clear execution plan in place coupled with active involvement from KKR.

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