Etika International Holdings, the manufacturer and distributor of sweetened condensed milk and regional F&B group, announced today that it has agreed to acquire 100% equity interest in P.T. Sentrafood Indonusa (PTSF) and P.T. Sentraboga Intiselera (PTSB) for Rp19.1 billion ($2.9 million).

The target companies are engaged in the business of manufacturing and distributing instant noodles in Indonesia. PTSF manufactures and distributes its instant noodles under the trademark of Salamie and Cintamie and is also an OEM manufacturer for a few private label products (eg. Mie Sehati and Pandaroo).

PTSF’s products are currently distributed locally in Indonesia and overseas via authorised distributors to countries such as Saudi Arabia, Malaysia and Brunei Darussalam. PTSB is the main distributor for PTSF in the Central and East Java regions.